How much is Samsung investing for Vietnam mobile phone plant?

Asked By 130 points N/A Posted on -
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The South Korea based Samsung has obtained a license to establish its handset device business in Vietnam. It was earlier said that the company has already invested $7 billion for its plant based in China. Now everybody is very much interest to know how much Samsung is investing for Vietnam mobile phone plant?

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Answered By 563960 points N/A #185945

How much is Samsung investing for Vietnam mobile phone plant?

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According to Samsung Electronics Co., they are planning to invest to as much as $3 billion to make mobile phone production bigger in Vietnam. This is one of Samsung’s bravest moves to fight their low-cost Chinese rivals. This development can considerably enhance the production capacity in their newest mobile phone plant in Vietnam.

This expansion is also a sign that Samsung or South Korean manufacturing is joining the change to lower down the wage of locales from China despite the fact that South Korea and China independently signed a free trade pact which is meant to join businesses in the 2 countries closer together.

This new expansion plan by Samsung will expand the present $2 billion mobile phone manufacturing line which Samsung started in the northern Thai Nguyen province in March. Samsung is already operating a $2.5 billion mobile phone plant in the northern Bac Ninh province since 2009. And recently, in July, Samsung won approval to construct a $1 billion plant to produce displays that will be used for tablets and Smartphones.

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