Samsung’s Vietnamese Factories Rebound with Profits of 1.2 Billion USD in Q1

Samsung’s four factories in Vietnam made a profit of nearly 1.2 billion USD in the first quarter of this year, following losses of nearly 180 million USD in the final three months of last year. Specifically, Samsung Electronics Vietnam (SEV) and Samsung Thai Nguyen (SEVT) recorded profits of about 116 million USD and nearly 90 million USD, respectively, while Samsung Electronics HCMC CE Complex (SEHC) achieved a profit of 15 million USD. The only unit with a loss in the final quarter of last year was Samsung Display Vietnam (SDV), which lost about 40 million USD.

In contrast, in the first three months of this year, these Vietnamese establishments returned to profit, with Samsung Electronics achieving revenue of about 71,920 billion won (approximately 54 billion USD). This was an increase of about 2 billion USD compared to the previous quarter. Samsung Thai Nguyen contributed the most revenue and profit to the Korean electronics giant, with 8.16 billion USD in revenue and 707 million USD in profit.

Samsung Electronics Vietnam followed with 4.2 billion USD in revenue and 300 million USD in profit. Samsung Display Vietnam and Samsung Electronics HCMC CE Complex achieved revenues of 2.65 billion USD and 1.24 billion USD, respectively. The profit for Samsung Display Vietnam was about 123 million USD, and for the HCMC CE Complex, it was 40.7 million USD.

Samsung cited an increase in consolidated revenue of nearly 13% over the same period last year as one reason for their return to profitability