In recent years, due to the impact of the Sino-US trade war, many electronics manufacturers have begun setting up factories in Southeast Asia and other regions outside mainland China to diversify their supply chains. Among these regions, Vietnam has been one of the biggest beneficiaries. South Korea's Samsung Electronics has invested over $22 billion in Vietnam, establishing several advanced manufacturing plants and becoming a major production base for Samsung Galaxy series phones.

Last year, due to a downturn in the global business environment, Samsung Electronics' four factories in Vietnam continued to face profitability challenges in the fourth quarter of 2023, resulting in a cumulative loss of $181 million for the entire year. However, with the market recovery, the performance of Samsung Electronics' Vietnam factories rebounded significantly in the first quarter of this year, earning Samsung up to $1.2 billion in profit.

Among these, the SEVT factory in Thai Nguyen, which mainly produces smartphones and other mobile devices, performed the best, contributing $707 million in profit. The SEV and SDV factories in Bac Ninh province achieved profits of $300 million and $123 million respectively, primarily producing consumer electronics and display products. Meanwhile, the SEHC factory in Ho Chi Minh City, which mainly produces home appliances, also earned $40.7 million in profit. The total revenue of all factories in the first quarter of this year reached $16.25 billion, an increase of $2 billion compared to the fourth quarter of last year.

It is worth noting that last month, Samsung Electronics' Chief Financial Officer Park Hak-kyu met with Vietnamese Prime Minister Pham Minh Chinh and announced plans to increase investment in Vietnam by $1 billion annually.