In the first nine months of this year, Samsung's four main factories in Vietnam reported a 3.3% increase in revenue, while total profit declined by 23.6%.
Samsung Electronics’ nine-month financial report highlighted the performance of its key factories: Samsung Thai Nguyen, Samsung Electronics Vietnam Bac Ninh, Samsung Display Vietnam Bac Ninh, and Samsung Electronics HCMC CE Complex in Ho Chi Minh City. While Samsung Vietnam operates six large factories and a research and development center, the report excluded Samsung Electro-Mechanics, which specializes in camera production, and Samsung SDI, which focuses on battery manufacturing.
According to the audited financial statements, these four factories contributed 28% of Samsung Electronics’ total revenue. Combined revenue rose 3.3% year-on-year to 63,821 billion won (45.47 billion USD), marking the second-highest nine-month revenue since data publication began in 2017, behind 2022’s 51.1 billion USD.
However, profits for the period dropped by 23.6% to 4.181 trillion won (2.98 billion USD), surpassing only the profits recorded during the COVID-19-affected years of 2019–2021.
Samsung Thai Nguyen (SEVT): The main phone manufacturing unit contributed 18.8 billion USD in revenue, a 9.6% increase year-on-year, making it Samsung’s third-largest revenue contributor after Samsung Electronics America and Samsung Semiconductor. However, its profit declined by 14.3% to 1.4 billion USD.
Samsung Electronics Vietnam (SEV) Bac Ninh: This phone manufacturing facility reported 12.1 billion USD in revenue (up 6.23%) and 929.23 million USD in profit (down 19.4%).
Samsung Display Vietnam (SDV) Bac Ninh: Focused on display production, SDV saw revenue fall by 11% to 10.7 billion USD, with profits dropping 41.7% to 449.81 million USD.
Samsung Electronics HCMC CE Complex (SEHC): Specializing in TV manufacturing, SEHC reported a nearly 50% decline in profit to 164.08 million USD, despite a 12.09% increase in revenue to 3.78 billion USD.
Samsung remains Vietnam’s largest foreign direct investor, operating six factories in Bac Ninh, Thai Nguyen, and Ho Chi Minh City with total investment nearing 23 billion USD. In September, Samsung Display and Bac Ninh signed a memorandum of understanding for a 1.8 billion USD project to expand display and electronic component production.
Globally, Samsung reported nine-month revenue of 160 billion USD, up 17.7%, with profit soaring nearly threefold to 18.9 billion USD. The four factories in Vietnam accounted for approximately 28% of global revenue and 15.7% of profits.
Despite overall positive results, Samsung faces significant challenges. Chairman Lee Jae-yong recently expressed “serious concerns,” particularly regarding the chip sector. The company is also contending with intensified competition in the smartphone market, facing Apple’s newly launched iPhone 16 and Huawei’s resurgence, which has contributed to Samsung's market share in China dropping below 1%. Samsung is reportedly planning global layoffs by the end of this year.
