South Korean builder Samsung C&T Corp said on Thursday it has received a 929 billion won ($805 million) order to build a production facility in Vietnam for Samsung Display Co Ltd.
A person familiar with the matter told Reuters last year that Samsung Display, a subsidiary of Samsung Electronics Co Ltd , planned to invest $3 billion in Vietnam by 2020 to boost its display module production capacity in the country.
It had previously committed $1 billion for an organic light-emitting diode (OLED) display module assembly plant in Bac Ninh province.Samsung Electronics has been boosting manufacturing capacity in Vietnam to lower production costs in response to price competition in the smartphone market.
Samsung Display supplies parent Samsung Electronics with screens for smartphones and other products.
Source: Tuoi Tre News