Samsung Electronics is planning to shift a lot of its show manufacturing from China to its plant in southern Vietnam this yr, state media mentioned on Friday.
Samsung is the only largest international investor in Vietnam, with investments totalling $17 billion (roughly Rs. 1.29 lakh crores).
“Samsung sees Vietnam as an important gateway to other Southeast Asian countries and a link in its global supply chain,” state-run newspaper Tuoi Tre reported.
“The move will make Vietnam become the world’s leading supplier of Samsung screens.”
Samsung didn’t instantly reply to a Reuters request for remark.
The information comes as extra corporations 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 big already produces shows in Vietnam, the place it has six factories in Vietnam and two analysis and growth centres.
The screens will probably be produced within the Samsung Electronics Complex in Ho Chi Minh City, Vietnam’s enterprise hub, Tuoi Tre mentioned.
© Thomson Reuters 2020