Amid Tariffs, Universal Electronics Moving Some Operations

Universal Electronics Inc. is streamlining operations,” said the company Wednesday. The remote control maker is relocating engineering, supply chain and customer support functions from its Hong Kong regional office to its facilities in Panyu and Suzhou, China. The process began in late 2018 and is expected to be completed over the next three to six months. Also, in response to higher tariffs for its China-made products, the company is moving production to its UEM facility in Monterrey, Mexico, and to a newly assigned contract manufacturing partner in the Philippines. Dougherty & Co. analyst Steven Frankel said the moves “are designed to deliver on management's promise to hold expenses at 2018 levels through 2020.”