More reports on: Telecom

Samsung Electronics to build $3-bn smartphone plant in Vietnam

news
11 November 2014

South Korean electronics giant Samsung Electronics Co Ltd has applied for a licence to invest $3 billion in building a second smartphone factory in northern Vietnam, Reuters reported citing government official.

Samsung Electronics' plans to set  up the factory in Thai Nguyen province in Vietnam, where it opened a $2-billion smartphone plant in March, the report said.

Confirming an earlier report by Dau Tu, a newspaper controlled by Vietnam's planning and investment ministry, the official said the company was working on the project. He added there were still a few things that needed to be fixed.

The Planning and Investment Department, official who was not authorised to speak to the media on the matter, declined to be identified.

Reuters cited a Samsung spokeswoman as saying the company was in discussions with Vietnam's government to invest up to $3 billion in its handset business.

The schedule for the spending and how much would be ultimately spent had yet to be decided, she added.





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