Samsung's 4 Vietnam factories account for 30% of global sales

By Tri Khang September 17, 2024 | 10:43 pm PT

South Korean conglomerate Samsung Electronics' four main factories in Vietnam contributed around 30% of its global revenues in the first half of this year.

Their combined revenues rose by 8.6% year-on-year to US$31.39 billion.

Samsung Thai Nguyen in the eponymous northern province was the top contributor with revenues of $13.81 billion, up 20.5%.

It ranked second globally behind only Samsung Electronics America.

Its profits of $1.13 billion after a 30.2% rise ranked it third globally behind Samsung Display Co. (South Korea) and Samsung Asia Pte. Ltd. (Singapore).

Samsung Display Vietnam in the northern province of Bac Ninh was the only unit in Vietnam to report a negative performance with both sales and profits declining.

Its revenues fell by 10.8% to $6.8 billion and profits by a whopping 33.4% to $283 million.

The results of the other two units in Vietnam, camera manufacturer Samsung Electro-Mechanics and battery maker Samsung SDI, were not reported.

Samsung has invested $22.8 billion to date in Vietnam. Its exports from the country rose by 5% year-on-year in the first seven months to $33.5 billion.

Globally the company reported a 18% rise in revenues to $108.2 billion while profits surged 503% to $12.3 billion.