Samsung's four manufacturing plants in Vietnam brought in nearly US$71 billion last year, making up 30% of the South Korean tech giant's global revenue.

Samsung Electronics Vietnam Thai Nguyen. Photo: Samsung Vietnam

In 2022, Samsung achieved a revenue of $234 billion, indicating a growth of over 8% compared to the previous year.

Among the contributors, four factories located in Vietnam accounted for approximately 30% of the total revenue, generating a profit of around $4.6 billion.

Samsung Electronics Vietnam Thai Nguyen (SEVT) maintained its position as the top-selling Samsung factory in Vietnam with sales of more than $28 billion, up 13% year-on-year. This resulted in SEVT's full-year profit of $2.1 billion, up 18% year-on-year.

SEVT is currently Samsung's largest smartphone factory worldwide, with the South Korean company investing in the northern province of Thai Nguyen in 2013 with an initial capital of $2 billion. Over time, the registered capital has increased to more than $7.5 billion.

As a result, Samsung's bases in Vietnam now account for more than 50% of its global mobile phone production. 

Meanwhile, in 2021, both two Samsung facilities in Bac Ninh Province, Samsung Electronics (SEV) and Samsung Display (SDV) had similar revenues. However, in 2022, SDV's revenue increased more strongly than SEV's.

For 2022, SDV's revenue increased by 18.6% to $19.9 billion, while that of SEV rose by 9.6% to $18.2 billion.

Despite having higher revenue, SDV's profit is lower than SEV's. In the previous year, SEV's profit was $1.27 billion, while SDV's was $1 billion.

SEV, Samsung's first manufacturing complex in Vietnam, remains one of the Group's top manufacturing bases globally.

Last year, Samsung Electronics Ho Chi Minh (SEHC) generated more than $4.82 billion in revenue and made a profit of nearly $300 million.

In addition to its four production facilities, Samsung opened a research and development (R&D) center in Hanoi last year, investing $220 million in the project.

Samsung aims to make this R&D center its strategic base for large-scale research and development. At the center's opening ceremony last month, Choi Joo Ho, general director of Samsung Vietnam, expressed his ambition to make the new center in Hanoi one of the best of its kind in the world.

Samsung has already invested $18 billion in Vietnam, and the group plans to increase this investment to $20 billion.

Samsung Vice President Han Jong-hee stated that the group remains committed to Vietnam, with a focus on advancing research in artificial intelligence and big data in the coming time.