Tuesday, 11 Dec 2018
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ECONOMY

Samsung already churns out over 1 billion tech products in Vietnam

Updated at Thursday, 23 Aug 2018, 11:37
The Hanoitimes - In just a decade, Samsung has increased its investment capital in Vietnam from US$670 million to over US$17.3 billion, a 26-fold increase.
Ten years on since Samsung's first factory in Vietnam came into operation, the South Korean tech-giant has exceeded the 1-billion mark of its made-in-Vietnam products, including smartphones, phones, tablets and smart devices, VietnamPlus reported. 
 
Illustrative photo.
Illustrative photo.
In 2009, Samsung's total production in Vietnam remained modest at 6.36 million products, which then increased sharply to 119.02 million in 2012 and 176.54 million in 2017. 

Overall, Samsung produced 1.05 billion products from 2009 to June 2018, of which, Samsung Electronics Vietnam Bac Ninh (SEV) and Samsung Electronics Vietnam Thai Nguyen (SEVT) produced 625.74 million and 431.68 million products, respectively.  

Shim Won Hwan, CEO of Samsung Vietnam, informed that around 1.2 - 1.4 billion smartphones are sold worldwide annually, for which the milestone of 1 billion products in Vietnam has significant meaning to Samsung. 

Vietnamese employees are an essential part of Samsung Vietnam's success today, he said.

In 10 years, Samsung has increased its investment capital in Vietnam from US$670 million to over US$17.3 billion, a 26-fold increase. More importantly, all the registered capital has been fully disbursed, stated the CEO. 

According to Samsung's statistics, around 50% of Samsung's smartphones and tablets are produced in Vietnam and exported to 128 countries and territories, including the US, Europe, Russia and Southeast Asia. 

In 2017, Vietnam's export turnover reached US$214 billion, of which Samsung alone contributed over US$54 billion, accounting for one fourth of the total.
Ngoc Mai
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