Samsung close to building their second smartphone plant in Vietnam

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Samsung already has a smartphone plant in Vietnam and according to a new report from Reuters, the South Korean giant has applied a license to build their second smartphone plant in the country. Samsung Electronics Vietnam, a subsidiary of Samsung, intends to build a $3 billion worth smartphone plant in the Thai Nguyen province, if they get an approval from the country's Planning and Investment Ministry. To reduce costs and better compete with low-end smartphones from Chinese smartphone vendors like Xiaomi, Samsung has been increasing production in Vietnam. According to Thai Nguyen provincial government, Samsung's first smartphone manufacturing plant in Vietnam generated around $1.9 billion in export revenues in its first four months of operation. If this plan to build a smartphone manufacturing unit gets approved, Samsung's total investment in Vietnam would be around $11 billion this year.

Samsung's reported reduces profits from its smartphone business for Q3 2014. It is trying to solidify its semiconductor business by investing $14.7 billion on a new semiconductor plant in South Korea. It also made a huge processor chip deal for Apple's upcoming iPhones and iPads, and is expecting improved profits from the deal.

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Asif Iqbal Shaik - Senior Editor

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First Samsung device: T100

Asif is a computer engineer turned technology journalist. He has been using Samsung phones since 2004, and his current smartphone is the Galaxy S21 Ultra. He loves headphones, mechanical keyboards, and PC hardware. When not writing about technology, he likes watching crime and science fiction movies and TV shows.

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