Samsung denies shifting smartphone production from Vietnam to India

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Samsung denies shifting smartphone production from Vietnam to India Illustrative photo: Hanoitimes

Samsung Vietnam said in a statement that its smartphone producing factories in the northern provinces of Bac Ninh and Thai Nguyen are operating as usual, according to VNExpress.

Vietnam will always be Samsung's important production base in the world, it stated on Tuesday, adding that reports on the shift to India are "groundless."

The denial was made after the Economic Times, an Indian news website, reported that Samsung is considering shifting a major part of its smartphone production to India from Vietnam and other countries, as the South Korean tech giant hopes to produce devices worth US$40 billion in India.

The move would help Samsung diversify its production lines and taking advantage of the Production Linked Incentive (PLI) scheme from the India government, Economic Times added.

As such, Samsung is reportedly to have submitted plans of making smartphones worth over US$40 billion to the Indian government in the next five years. Out of this, phones with factory price of over US$200 could account for over US$25 billion, with the majority subject to export.

“Samsung is likely to diversify its production lines for making smartphones to India under the PLI (Production Linked Incentive) scheme and this will have an impact in its existing capabilities across various countries like Vietnam,” Economic Times cited a source "familiar with the matter" as saying.

In a meeting with Samsung Vietnam’s CEO Choi Joo Ho on August 11, Vietnam’s Prime Minister Nguyen Xuan Phuc expressed hope that the country would continue to remain Samsung’s global strategic production hub, especially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU – Vietnam Free Trade Agreement (EVFTA) have become effective.

Samsung to shut down its last computer-producing factory in China Samsung Electronics Co has announced on Saturday that they would halt operations of its last computer factory in China.

Huawei surpassed Samsung to be the world's biggest smarphone brand Huawei took over Samsung's first rank in smartphone market for the first time ever, released on Thursday.

Samsung Hope School for poor students building in Bac Giang About 300 poor elementary and secondary school students in the northern province of Bac Giang will have a new school named Samsung Hope School.