Will Brexit Create a Negative Impact On UK Cellular?

(Newswire.net — July 26, 2016) Docklands, VIC — While the United Kingdom’s exit from the European Union may have satisfied the 51.9% of those who voted to leave, the cell phone companies Samsung, LG, and Acer are not among those who are in favor. As things stand, Samsung and LG have seen sales in the EU drop over the years. From 2013 to 2015, Samsung’s European sales fell from 21.2 to 12.8 percent of its total sales, while LG’s European sales dropped from 11.2 to 10.3 percent of its overall sales. Both companies have already seen decreasing sales in the EU.

According to Digitaltrends.com, these drops in sales have reportedly been compounded by “Brexit,” the campaign that pushed for Britain’s exit from the EU. Even though it will take at least another two years for the decision to be implemented, Samsung, LG, and Acer are allegedly concerned that their European-made products will be subject to tariffs once they make their way to the U.K. market.

The devastating sales rate for out of country products within the UK does not bode well for the economy or business. The process of Brexit is proposed to take a couple of years, so we have yet to see the full impact on these businesses.

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