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Mar. 23, 2008

On Friday, Samsung Electronics said it plans to build a new mobile handset plant in Vietnam.

The company said the investment represents about US $670 million.

Now the world’s second largest handset maker, Samsung said last year that it was looking to build a new manufacturing facility to help it meet its goal of selling more than 200 million mobile phones in 2008.

Samsung also said it wants to especially target medium to entry-level mobile customers in emerging markets.

The phone handset manufacturer also said that, before it can go ahead building the new plant, the Planning and Investment Department in Bac Ninh province is till waiting to award Samsung a manufacturing license.

The company has said in a regulatory filing that it plans to invest $50 million in a mobile phone factory in Vietnam by September 2008, but hasn't provided any specific details.

Wireless Industry News will provide more coverage to this story when it receives more news from Samsung in mid-April.

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Source: Samsung.