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Samsung to expand foldable devices production capacity in Vietnam

Samsung Electronics Co. will begin expanding the production capacity of foldable devices at its plant in Vietnam’s northern province of Bac Ninh within the second half of this year, as reported by The Korean Economics Daily.
Samsung to expand foldable devices production capacity in Vietnam ảnh 1Samsung Bac Ninh plant (Source: SamSung)

Hanoi (VNA) - Samsung Electronics Co. will beginexpanding the production capacity of foldable devices at its plant in Vietnam’snorthern province of Bac Ninh within the second half of this year, as reportedby The Korean Economics Daily.

Accordingly, Samsung’s display unit Samsung Display Co. willincrease its annual production capacity of foldables by 47 percent from thecurrent 17 million to 25 million.

The project targets a full operation by the end of this yearor early next year at the latest.

Experts say that once Samsung completes the expansion, thecompany will be able to produce 10 million units of Z Fold models and 15million units of Z Flip models a year.

Samsung’s decision to ramp up capacity is mainly driven bysoaring market demand. Its third-generation foldable models recorded 920,000pre-orders in the Republic of Korea, 1.8 times more than its latest smartphoneGalaxy S21. The number of pre-orders for the new foldable phones was evenhigher in China with more than 1 million.

In Vietnam, Samsung is running six plants and building a researchand development centre. Investing more than 17.7 billion USD in the country sofar, the company is employing 110,000 employees.

It generated an annual export value of over 56 billion USDlast year. In the first seven months of 2021, the Samsung Vietnam still grew 10percent on-year despite COVID-19./.
VNA
#Samsung #The Korean Economics Daily #Samsung Display Co. #samsung bac ninh #foldable devices #vietnam #vietnam news agency #vietnamplus
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