- Samsung Vietnam reports massive loss following Galaxy Note 7 scandal
- Samsung to disable Note 7 phones in recall effort
- Samsung Galaxy Note 7 owners in Vietnam told to give up their phones
- Fiery Samsung Note 7s fail to cut off Vietnam's mobile phone exports
- Vietnam Airlines bans Samsung Galaxy Note 7 on all flights
- Samsung Vietnam says no cuts in jobs this year despite Note 7 woes
- Samsung's latest invention: a fireproof box for Note 7 returns
- Samsung to refund Galaxy Note 7 owners in Vietnam
- Samsung Electronics says halted Galaxy Note 7 production
- Samsung Electronics suspends Galaxy Note 7 production: Yonhap
- Samsung remains Vietnam’s largest exporter despite Galaxy Note 7 saga
Smartphones accounted for 27.1 percent of Vietnam’s total exports in 2016 with a value of $34.32 billion, customs data showed.
Phone exports are expected to rise 13.6 percent to reach $39 billion this year, the Saigon Times cited experts as saying.
Vietnam’s economic growth is being fueled by steady inflows of foreign direct investment into export-oriented sectors, especially smartphones and tablet computers, and many of them are made by Samsung Electronics.
Samsung has invested a total of $15 billion to produce phones in Vietnam, according to the Association of Foreign-Invested Enterprises, equivalent to 10 percent of the country’s total foreign investments over the past three decades.
About 130,000 workers at Samsung’s two manufacturing facilities in the southern provinces of Bac Ninh and Thai Nguyen are involved in assembling 35 percent of all Samsung's smartphones globally, including its flagship Galaxy Note 7.
Despite Samsung’s parent company scrapping the Galaxy Note 7 following a series of unresolved battery fires last year, Samsung Vietnam’s smartphone shipments in 2016 rose 8 percent from $32.7 billion in 2015, accounting for nearly a fifth of the country’s total export revenue.
The company is targeting a 7-10 percent increase in exports from Vietnam this year, said Deputy Director Bang Huyn Woo.
The General Statistics Office said exports in 2016 rose 9 percent to $176.6 billion, while imports increased 5.2 percent to $174.11 billion. Vietnam’s trade surplus was estimated at about $2.52 billion, it said.
Vietnam’s top 10 foreign exchange earners, including mobile phones, textiles, electronic and computer components, footwear and seafood products, accounted for 71.8 percent of total exports in 2016.
The government has set an economic growth rate target of 6.7 percent this year, which would be the fastest pace since 2007.
Từ vựng liên quan
Tin tức liên quan
"Keep Hanoi Clean" member, who went viral on the internet for the controversial cleaning of the capital's dirty channel without a permit met with Nguyen Duc Chung, chairman of Hanoi’s People Committee, today.
The Finance Ministry has warned investors over high coupon rate corporate bonds, for the second time in three months, amidst their rising issuance.
Vinh Phuc Province, hub of Vietnam’s novel coronavirus epidemic, is building a field hospital with 300 beds.
Tokyo police said they had arrested a 49-year-old woman suspected of dumping a stillborn baby's body in a coin locker.
Cuba has observed a two-day state mourning in tribute to Vietnamese President Tran Dai Quang who passed away Friday.
Quang Ninh Environmental Police yesterday rescued a 40 kilogram green sea turtle after a local man was closing a deal on National Highway 1A for $670.