Samsung's four factories in Vietnam rake in 30% of global revenue
(VOVWORLD) - Four Vietnamese subsidiaries of South Korean giant Samsung Electronics reported combined revenues of 31.38 billion USD in the first half of 2024, up 8.6% year-on-year.
 One of the 6 Samsung Electronics factories in Vietnam (Photo: VOV) |
They have also reported a turnaround in the first quarter of this year. Samsung Electronics Vietnam Thai Nguyen was the best performer, according to Samsung’s audited financial statements on Tuesday, bringing in 13.8 billion USD in revenue, while post-tax profit reached 1.1 billion USD. Meanwhile, its factory in the northern province of Bac Ninh raked in 8.2 billion USD in revenue, and a profit of nearly 693 million USD.
Globally, Samsung Electronics earned a total revenue of more than 108 billion USD, 30% of which was brought in by its four factories in Vietnam. The Vietnamese factories also accounted for 18% of the South Korean conglomerate’s profit.
Samsung to date has invested 22.8 billion USD in six factories and one R&D center in Vietnam. Its export turnover in Vietnam has reached 33.5 billion USD in the past 7 years.