Samsung Display Co., a leading South Korean electronics manufacturer, plans to invest $1.8 billion in a new OLED display factory in northern Vietnam this year.
The facility, located in the Yen Phong industrial park, Bac Ninh province, will focus on producing OLED screens for automotive and tech equipment, according to a statement from the Vietnamese government.
The announcement came after a meeting between Vietnam’s Prime Minister Pham Minh Chinh and Samsung Vietnam’s General Director Choi Joo Ho.
This investment boosts Samsung’s total investment to $8.3 billion from its previous $6.5 billion investment in Yen Phong Industrial Park, with Bac Ninh authorities and Samsung Display formalizing the deal through a memorandum of understanding.
Vietnam: emerging key electronics manufacturing hub
Vietnam has established itself as a key production hub for major electronics companies over the last decade.
On Sunday, Bac Ninh Province in northern Vietnam granted investment approvals, registration certificates, and memorandums of understanding for 18 projects.
Apart from South Korean tech giant Samsung, these projects include investments from major companies like Taiwan’s Foxconn, and Amkor Vietnam, with a total pledged capital exceeding $5.5 billion.
Global partnerships expand Samsung’s market reach
Samsung is further expanding globally, having been onboarded by Vodafone Idea alongside Nokia and Ericsson in a $3.6 billion deal to supply network equipment for three years, marking Samsung’s entry as a key partner.
With a cumulative investment of $22.4 billion in Vietnam, including six manufacturing plants and one R&D center, Samsung continues to strengthen its global presence and partnerships, driving innovation in electronics production.
This latest investment strengthens Samsung’s commitment to Vietnam’s growing electronics sector, as the company continues to scale its operations in response to rising global demand for OLED displays.
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