Samsung expands Vietnam factory to increase foldables production
Samsung plans to begin the expansion soon, with full operation expected by the end of 2021 or early 2022. It would increase Samsung’s annual foldable production capacity by 47%, from 17mn to 25mn.
B?c Ninh City, Vietnam
(Image Source: Samsung Electronics Vietnam LinkedIn Page - https://www.linkedin.com/company/samsungvietnam/)
Samsung has revealed the expansion plan for its Bac Ninh factory in Vietnam to improve its foldable device production capability.
As per The Korea Economic Daily, Samsung plans to begin the expansion soon, with full operation expected by the end of 2021 or early 2022. It would increase Samsung’s annual foldable production capacity by 47%, from 17 million to 25 million. A source added that Samsung would add three more production lines to its present seven to manage production capacity flexibly.
Samsung decided to add more capacity due to increased market demand for its third-generation foldable models. Samsung’s foldable smartphones are expected to sell 7.5 million by the end of 2021 and over 20 million by 2023.
Samsung is Vietnam’s largest foreign investor and has six units along with plans to create a new research and development (R&D) centre in Hanoi next year. Approximately 3,000 Vietnamese engineers are expected to work there. Last year Samsung invested over $17.7 billion in Vietnam, employing over 110,000 people and exporting over $56 billion in goods.
Samsung has increased the capacity of its phone production lines in Vietnam and other countries. According to DSCC’s market research, the annual manufacture of its foldable handsets would increase 251% in 2021, from 500,000 units in 2020.
Source – TechStory