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Samsung Display gets license to invest $2.5 billion more in Vietnam: state TV
February 24, 2017 / 12:54 PM / 9 months ago

Samsung Display gets license to invest $2.5 billion more in Vietnam: state TV

HANOI (Reuters) - Samsung Electronics Co Ltd’s display panel subsidiary has received a license to invest another $2.5 billion in Vietnam to boost capacity, Vietnam’s State Television (VTV)reported.

Employees walk in the main office building of Samsung Electronics in Seoul, South Korea, in this file photo taken on January 6, 2016. REUTERS/Kim Hong-Ji

The extra funding will boost Samsung Display’s total investment in Vietnam to $6.5 billion and increase the South Korean firm’s screen-making capacity to 220 million products a year from 180 million now, VTV said.

Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.

Reporting by Mai Nguyen; editing by David Clarke

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