Samsung has rejected report by India’s Economic Times to move part of its smartphone production in Vietnam to India, saying Vietnam as a world’s major manufacturing base of the tech giant.
Samsung Vietnam said that its smartphone manufacturing factories in the country’s northern provinces of Bac Ninh and Thai Nguyen are operating normally, without connection to its India factory’s plan to boost production.
The report on August 17 said that Samsung had submitted plans to make smartphones worth over $40 billion in the next five years in India.
The South Korean conglomerate said that it has invested totally $17,363 billion in Vietnam, where a half of its global smartphones are made.
Of the total amount, Samsung Electronics was invested $9.5 billion, including $2.5 billion injected into Samsung Bac Ninh, $5 billion to Samsung Thai Nguyen and $2 billion to Samsung CE Complex in the Ho Chi Minh City-based hi-tech park.
Meanwhile Samsung subsidiaries invested $7.863 billion including $6.5 billion in Samsung Display in Bac Ninh, $133 million in Samsung SDIV, which produces smartphone battery and $1.23 billion in Samsung Electro-Mechanical SEMV in Thai Nguyen.
Samsung Vietnam is building its Southeast Asia’s largest Research and Development Center in Hanoi. The project is expected to be completed by the end of 2022. The center is scheduled to create jobs for 2,200 to 3,000 people.
According to data from Vietnam General Statistics Office, total export value of Samsung Electronics and its subsidiaries in Vietnam in 2019 was about $59 billion, contributing more than 22% to Vietnam’s export turnover which was $264.19 billion.