Samsung Vietnam's 2021 revenue reached $74.2 billion, saying it would not change its business strategy in Vietnam due to the epidemic

author：Dongbosha 2022-01-20 17:26:00

According to Yonhap News Agency, Vietnam's Ministry of Industry and Trade and local industries revealed on January 19, 2022 that Samsung Electronics and its subsidiaries Samsung Displays, Samsung Motors, Samsung SDI, etc. in Vietnam in 2021 sales of $74.2 billion, exports of $65.5 billion, an increase of 14% and 16% year-on-year, respectively, the performance exceeded expectations.

Although due to the impact of the new crown pneumonia epidemic, the Vietnamese government has taken several anti-epidemic measures such as regional blockades, resulting in difficulties in the supply of parts and components in vietnam, but thanks to the support of the Vietnamese government, Samsung's factories have still achieved good results.

Samsung Vietnam's 2021 revenue reached $74.2 billion, saying it would not change its business strategy in Vietnam due to the epidemic

Samsung (Vietnam) company's operating income reached $74.2 billion in 2021, an increase of 14% over 2020 Source: Vietnam "Labor News"

In its 2021 operating results report released on January 19, Samsung (Vietnam) said that its revenue and export growth were attributed to the company's strict compliance with the Vietnamese government's epidemic prevention regulations, according to the Vietnam News Agency. In particular, between April and June 2021, the implementation of epidemic prevention measures such as "social distancing" in the location of Samsung's factories has caused many difficulties in Samsung's production activities, but with the full support of the Vietnamese government and local authorities, these difficulties were quickly resolved to ensure that production was not interrupted.

At present, Samsung mobile phones produced in Vietnam account for more than 50% of Samsung's global production. Samsung phones made in Vietnam have been exported to 128 countries and regions around the world.

Choi Joo Ho, general manager of Samsung Vietnam, said: "We will not change our business strategy in Vietnam due to the epidemic. In addition to putting all approved investment funds in place, we are adding hundreds of millions of dollars each year to keep our plants running stable and improve productivity and product quality. "By the end of 2021, Samsung's cumulative investment in Vietnam totaled $18 billion, an increase of 2% over 2020.

In Samsung's development plan, Vietnam is surpassing its role as Samsung's globally important production base and becoming a strategic research and development center.

Source: Vietnam News Agency, official website of the Economic and Commercial Office of the Chinese Embassy in South Korea

Edit: Zhong Shuangxia

Samsung Vietnam's 2021 revenue reached $74.2 billion, saying it would not change its business strategy in Vietnam due to the epidemic

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