Samsung Electronics Ho Chi Minh (SEHC), another subsidiary of Samsung in Vietnam, recorded a surge of 25.3% year-on-year in revenue to US$5.3 billion, while the firm’s profit also rose by 25% to US$400 million.Samsung Vietnam remains a major production hub for Samsung globally. Photo: Samsung Vietnam
Vietnam remained a major production hub for Samsung, as revenue from Samsung Vietnam made up 30% of that of the South Korean tech giant in the global market last year at US$212 billion, and 11% of profit at US$32.25 billion.
According to Samsung's statistics, around 50% of Samsung's smartphones and tablets are produced in Vietnam and exported to 128 countries and territories, including the US, Europe, Russia and Southeast Asia.
In the 2008 – 2018 period, Samsung increased its total investment in Vietnam from US$670 million to over US$17.3 billion, a 26-fold increase.
Samsung Vietnam is in the process of constructing its largest R&D center in Southeast Asia in the West of Hanoi with investment capital of US$220 million, scheduled to complete by late 2022. The company expected Vietnam would not only be its largest production hub, but also a strategic base for R&D.