Most European companies have their products manufactured (assembled) in China. In a small gadget, there are easily 200 little parts that are produced by dozens of different Chinese companies. As always in business, there are regularly problems with quality or delays or price hikes, and then the client considers moving production back home to Europe. But such considerations always strand on a number of troubling reasons, and it's not that the gadget would be more expensive in Europe. Actually, the price increase nowadays would be less than one might think (for example from 10 euros to 15 euros on products that sell to stores for 50-100 euros and part of that extra cost would be recouped in not having to ship the products so far).
The real reasons are that there are almost no manufacturers in Europe who have the required knowledge, that European manufacturers cannot deliver as fast (they are smaller and have much less manpower) and that European manufacturers are not able to source the components in Europe anyways. Maybe we could get part of the components in Europe, but surely not all 200. In China, they are produced locally and can be delivered in hours or days. In Europe, we would have to have them shipped from China.
I don't believe production of the current consumer electronics will be moved back to the Western World. Phones, pads, monitors, flat screen tvs, laptops etc. will continue to be produced in Asia. After all, that's where the manufacturing infrastructure and knowhow is. What we can hope for is that the next generation of products will be mass produced here; robots, electric vehicles, drones etc. But I doubt it. Salaries in China have been at the level of the cheapest countries in Europe for a while but manufacturing has not returned in scale. Your next 3D gadget is likely going to be produced in Shenzhen or Malaysia, not in Romania, Portugal or Michigan.