Key Points
- Samsung Display Co. will invest $1.8 billion in a new OLED factory in northern Vietnam.
- The factory will be located near existing Samsung facilities in Yen Phong Industrial Park in Bac Ninh province.
- The investment will bring Samsung’s total investment in Bac Ninh to $8.3 billion.
- The OLED displays produced will be used for automobiles and other tech equipment.
Samsung Display Co., a subsidiary of Samsung Electronics, has announced plans to invest $1.8 billion in a new factory in northern Vietnam. The facility will focus on producing OLED (Organic Light-Emitting Diode) displays for automobiles and other tech equipment. The investment marks another major move by Samsung to expand its manufacturing presence in Vietnam, which has become a key hub for electronics production in the region.
The new OLED production plant will be in the Yen Phong Industrial Park in Bac Ninh province, just east of Hanoi. This site is strategically positioned near an existing Samsung Electronics facility, allowing the company to optimize operations and logistics. The decision to establish the new factory was announced following a meeting between Vietnamese Prime Minister Pham Minh Chinh and Choi Joo Ho, the General Director of Samsung Group in Vietnam.
In addition to the investment announcement, Samsung Display and Bac Ninh authorities signed a memorandum of understanding (MoU) on Sunday, formalizing the commitment to the project. Local media reports indicated that this new investment will increase the Samsung Group’s total investment in Bac Ninh province to $8.3 billion, up from the current $6.5 billion.
Samsung Display, known for its cutting-edge screen technologies, will focus on producing OLED displays for various applications, including automobiles, which increasingly adopt advanced digital displays in their interiors. OLED technology is prized for its vivid colors, thin profiles, and energy efficiency, making it a popular choice in high-end electronics and automotive industries.
Vietnam has emerged as a leading production hub for global electronics manufacturers, offering a combination of skilled labor and competitive production costs. In the last decade, Samsung has significantly expanded its operations in the country, establishing six manufacturing plants, a research and development center, and a sales entity. With this new investment, the Samsung Group’s total cumulative investment in Vietnam will rise to $22.4 billion, according to Choi Joo Ho.
Samsung did not immediately provide additional comments on the investment. Still, the expansion highlights the company’s ongoing commitment to scaling up its production capabilities in Vietnam as global demand for OLED displays grows.
