Home
Mobiles
Mobiles News
Samsung Nears Licence for $3 Billion Smartphone Plant in Vietnam: Report

Samsung Nears Licence for $3 Billion Smartphone Plant in Vietnam: Report

By Reuters | Updated: 10 November 2014 09:14 IST

Click Here to Add Gadgets360 As A Trusted Source

A subsidiary of South Korea's Samsung Electronics Co Ltd will be awarded a licence to invest $3 billion (roughly Rs. 18,400 crores) in a mobile phone plant in northern Vietnam, the second such facility in the country, a state-run newspaper said on Monday.

The facility will be built in Thai Nguyen province, where Samsung Electronics Vietnam has operated a $2 billion (roughly Rs. 12,300 crores) plant for mobile phone production since March 2014, the Planning and Investment Ministry-run Dau Tu newspaper said.

A Samsung Electronics Vietnam official said the company had no immediate comment on the report.

The ministry oversees foreign investment in Vietnam. Samsung's latest investment would bring its total pledges in the Southeast Asian nation to around $11 billion (roughly Rs. 67,600 crores), the Dau Tu newspaper said.

© Thomson Reuters 2014

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.