Unconfirmed reports say that Korean tech giant Samsung may be considering relocating its European headquarters from London to the Polish capital, Warsaw, although the company has denied this.

On Tuesday, the Seoul-based Korea Herald reported that Samsung, one of the world’s largest electronics producers, was mulling the decision to move its base in Europe to Poland.

The paper quoted industry insiders who confirmed that such a move was being considered, with one saying that Samsung was “laying off employees in Europe. The relocation seems to be part of its business restructuring amid sluggish sales”.

On Wednesday, the original story on the Korea Herald had been removed, with the company vehemently denying the story.

Samsung already operates an R&D centre in Warsaw.

In recent months, a number of rumours have surfaced about the possibility of international conglomerates contemplating investment in Poland.

These included carmaker Jaguar Land Rover which was considering opening a Polish plant, but instead decided to invest in Slovakia – which, along with other countries in CEE, has been offering numerous incentives for foreign investments.

Last year Samsung saw European sales drop by 22.7 percent.

Mobile-technology website androidauthority.com said that “Poland was the first country in the world to have the Galaxy S5 Lollipop update pushed to devices, for example, and then for the Galaxy Note 4 as well. Neighbouring Russia was initially to be the first country to receive the original Samsung Z, before it was cancelled.” (rg/rk)