Group14_Samsung - Chung declined to confirm the report The world's second-largest mobile phone maker by volume has said it would increase handset

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UPDATE: Samsung Electronics To Build Handset Plant In Vietnam 254 words 21 March 2008 05:47 Dow Jones International News DJI English (Adds background information) SEOUL (Dow Jones)--South Korea's Samsung Electronics Co. (005930.SE) Friday said it will build a handset manufacturing plant in Vietnam to boost overseas production targeting emerging markets. Samsung will initially invest KRW50.5 billion ($50 million) in the plant this year, the company said in a regulatory filing. Company spokesman James Chung said Samsung may invest more later to expand output capacity at the plant. Samsung may invest up to $670 million in the plant to be built in Bac Ninh province, 30 km northeast of Hanoi, the Associated Press reported Friday, citing a Vietnamese official. The plant will produce 30 million medium- and low-end handsets a year in the first stage and will gradually expand to produce 100 million units, the report said.
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Unformatted text preview: Chung declined to confirm the report. The world's second-largest mobile phone maker by volume has said it would increase handset production to meet rising demand. Choi Gee-Sung, president of Samsung's telecommunications division, said in February the company aims to achieve about 20% of the global handset market this year by selling more than 200 million units globally. The company sold 161 million handsets last year, taking up 15% of the global market. Samsung already has handset manufacturing facilities in China, India and Brazil, and it also makes cellphones in South Korea. By In-Soo Nam, Dow Jones Newswires; 822-721-0583; [email protected] [ 21-03-08 0947GMT ] Document DJI0000020080321e43l00071 © 2010 Factiva, Inc. All rights reserved. Factiva .. 1 of 1 3/14/10 4:53 PM...
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This note was uploaded on 01/11/2012 for the course EIN 4354 taught by Professor Tufecki during the Fall '08 term at University of Florida.

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