Tech Desk
Sep 23, 2024
Samsung Display Co is set to invest $1.8 billion in a factory situated in northern Vietnam to build OLED displays for automobiles and technology equipment, according to a Southeast Asian country.
The government stated after holding a meeting between Prime Minister Pham Minh Chinh and Samsung group in Vietnam General Director Choi Joo Ho that the latest facility for producing OLED displays will be situated in Yen Phong industrial park in Bac Ninh province east of Hanoi nearer to an already existing Samsung Electronics plant.
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Furthermore, Samsung Display is a manufacturer of OLED and QD-OLED panels that efficiently produces high-end products including TVs, laptops, phones, and more.
The top officials of Samsung Display and Bac Ninh both reportedly signed a contract on September 22, a letter for the comprehension of the project, adding that the investment would exponentially increase the total investment of the South Korean-based company in Bac Ning from $6.5 billion to $8.3 billion.
Choi added that the South Korean-based tech giant has successfully pioneered six production plants, one research and development centre, and one sales entity in Vietnam, with a sum investment of $22.4 billion.
