Samsung to Spend $1.8bn for Enhancing OLED Production in Vietnam

More good news for Vietnam is that Samsung has revealed that it will spend $1.8 billion to increase OLED production in the country, further solidifying its crucial position in Samsung’s production network. It is also aligned with Samsung’s continuous endeavor to harvest the growing market for LED screen OLEDs, which are used in gadgets. It will help to strengthen Vietnam’s status as a key manufacturing location in SE Asia, which has been gradually ascending in recent years.

Highlights
 

1- Samsung plans to increase OLED production in Vietnam through an estimated billion-dollar investment.
 

2- It is in line with enhancing the production of OLED displays to meet increased demand worldwide in smartphones, televisions, and other gadgets.
 

3- Vietnam is becoming a strategic hub of the Samsung production line of products, this investment has enhanced the capabilities of production in the country.

Samsung’s expansion in Vietnam took place as the company aims to ramp up production of OLED panels, which are a much better alternative to traditional LCD screens due to their accuracy in color reproduction, brightness, and energy consumption. The OLED market has had decent growth and will continue to expand in the future as more clients and OEMs are starting to integrate the use of OLED technology in their products; from Galaxy series flagship smartphones to TVs.

Samsung will benefit from this investment by improving its supply chain since this industry is already experiencing increased manufacturing capacity by competitors such as Apple and LG. Vietnam has always been considered crucial for Samsung and has many factories for the production of its smartphones, displays, and other electronics. Depending on this new stream of capital, Vietnam will become even more secure as a key manufacturing center for next-generation technology.

The measure fits into Vietnam’s long-term plan to lure more high-technology investment, further solidifying its position as the electronics manufacturing hub. Another multinational company has considered Vietnam as one of the strategic factors in its global production network and has spent several billions of dollars on the Vietnamese economy and employment.

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