Samsung Display says to build $1.25b Vietnam plant
Published on Jul 3, 2014 10:47 PM
SEOUL (REUTERS) - A subsidiary of South Korea’s Samsung Electronics Co Ltd said on Thursday it received approval to build a US$1 billion (S$1.25 billion) display module assembly plant in Vietnam, its first production facility in the country.
A Samsung Display spokesman said the company plans to start production at the plant, to be built in Bac Ninh province, some time in 2015. Exact production capacity or types of displays to be handled at the facility have yet to be decided, he said.
Samsung Electronics has been ramping up its production capacity in Vietnam in a bid to lower production costs, amid intensifying competition in the smartphone market.
Chinese rivals like Huawei Technologies and Lenovo Group are mounting a particularly strong challenge in mid-to-low tier products.
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