N/APosted on - 11/27/2014
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?
How much is Samsung investing for Vietnam mobile phone plant?
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.