Samsung Electronics is planning to shift a lot of its show manufacturing from China to its plant in southern Vietnam this yr, state media stated on Friday.
Samsung is the only largest overseas investor in Vietnam, with investments totalling $17 billion (roughly Rs. 1.29 lakh crores).
“Samsung sees Vietnam as an vital gateway to different Southeast Asian international locations and a hyperlink in its world provide chain,” state-run newspaper Tuoi Tre reported.
“The transfer will make Vietnam turn into the world’s main provider of Samsung screens.”
Samsung didn’t instantly reply to a Reuters request for remark.
The information comes as extra firms look to diversify provide chains past China, after widespread disruption globally when the novel coronavirus first struck on the planet’s manufacturing powerhouse.
The South Korean tech large already produces shows in Vietnam, the place it has six factories in Vietnam and two analysis and improvement centres.
The screens shall be produced within the Samsung Electronics Advanced in Ho Chi Minh Metropolis, Vietnam’s enterprise hub, Tuoi Tre stated.
© Thomson Reuters 2020