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© alphaspirit dreamstime.com Electronics Production | November 27, 2014

Samsung to invest in Vietnamese operations

Samsung, the South Korean tech giant, has secured a license to invest USD 3 billion to expand manufacturing in northern Vietnam.

The company was awarded the license in November in the Thai Nguyen province, where Samsung is running a USD 2 billion smartphone factory, according to a report in Reuters. Samsung is with this USD 3 billion investment in Vietnam planning to strengthen its handset business, as part of a strategy to cut cost and to better compete with its Chinese rivals, the report concludes.
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June 04 2020 10:54 am V18.6.10-1