Jan 1, 2013

Vietnam - Samsung eyes Vietnam market

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The Hanoitimes - The Korea Times reported that Samsung Electronics would pour 2.2 billion USD into its factories in northern Bac Ninh and Thai Nguyen provinces by 2020 to boost output and save manufacturing and logistics costs and delivery time.

Samsung expected to manufacture 240 million devices at its factories in Vietnam, together with 170 million in China and 20 million in India and another 40 million in Korea, the newspaper reported.

The company aimed to sell 510 million phones next year, an increase of 20% over last year's record 420 million.

Samsung's total investment in Bac Ninh Province increased to $1.5 billion after the company obtained a licence to develop its second factory, worth $830 million, in the province.

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