Samsung planning to invest 2.2 billion USD in Vietnam

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The mobile phone corporation from Korea has just announced their plan in the next year as well as in the long term, in which Vietnam will play an important role, producing 50% of total Samsung’s worldwide mobile phone.

Accordingly, in 2013, Samsung is targeting to produce 510 million mobile phones, sharply increase from the number of 420 million mobile phones this year. Particularly, nearly half of 510 million units – 240 million units will be manufactured in Vietnam, 170 million units come from the factory in China, 40 million units produced in Korea and 20 million units in India.

Samsung will also aggressively expand factories in Vietnam in the coming years. They are planning to invest about 2.2 billion USD from now till 2020 to improve production in Vietnam.

In 2012, Samsung surpassed Nokia to become the largest mobile phone manufacturer in the world after 14 years of domination of the Finland company. It is forecasted that the Korean mobile phone corporation will have net profit of 19.55 billion USD in 2013, compared with estimated 17.68 billion USD net profit of 2012.

(Source: ANT Consulting, VnExpress)

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