Samsung expects high phone export revenues

Samsung Electronics Vietnam Co., the operator of a cell phone factory in the northern province of Bac Ninh, is expected to gain US$1.9 billion from mobile phone exports this year, the company said.

The company had obtained US$1.6 billion in phone exports between October 2009 when its factory was launched in Bac Ninh and the end of 2010. Given this year’s target of US$1.9 billion, its cumulative export revenue would hit US$3.5 billion. Samsung said in a statement released on the occasion the company held its recruitment day in Hanoi in late April.

The company once said that cumulative export earnings from this phone factory were predicted to amount to US$16 billion by 2015.

Samsung Electronics Vietnam Co. is the first and only complete hand-phone factory in Vietnam to date. The phone manufacturing project has become the largest in terms of scale and the most successful production base of Samsung outside Korea.

Vietnam is the fifth country where Samsung Electronics has phone production facilities after South Korea, China, India and Brazil.

Operations of the phone facility in Yen Phong Industrial Park have attracted many manufacturers who have been licensed there to supply parts and accessories to Samsung Electronics.

Relating to the Samsung’s recruitment day, nearly 1,200 students from three major universities in Hanoi joined the event that was held following Global Samsung Aptitude Test standards.

Some 300 applicants employed from the recruitment day will work at the company in late June. The new staff will work at departments like Research & Development, cell-phone production, vacuum cleaner and camera production.

According to Samsung, the Korean investor is considering an expansion plan to turn its factory into a complex manufacturing a wide array of ICT and electronics products, including laptops, printers, cameras and vacuum cleaners.

“Recruiting more people will help us carry out Samsung’s plans in Vietnam well. I believe that the young talent in Vietnam will help us achieve important growth in Vietnam in the future,” Yoo Young Bok, general director of Samsung Electronics Vietnam, said in the statement.

The company now employs more than 7,000 local people and has 90 percent of its products exported to 52 countries and territories in Southeast Asia, the Middle East, Africa, and Europe. – Vietbiz24

Posted by VBN on May 12 2011. Filed under Appliances & Electronics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry