Samsung Reports Stellar Q3 Performance with Significant Contributions from Vietnamese Factories

Samsung has released its Q3 report, revealing impressive financial results with a 17.3% surge in revenue to 79.098 trillion Won (equivalent to 56.48 billion USD). The highlight of this growth story is the remarkable 72.8% jump in profits, amounting to 10.1 trillion Won (7.21 billion USD).

The four Samsung factories in Vietnam played a pivotal role in this success, marking a strong recovery after a challenging period. Together, they contributed 12.41 trillion Won to the global profits, accounting for 12.3% of Samsung’s total profits. In contrast, these factories incurred a loss of 199 billion Won in the same period last year.

Samsung Electronics Vietnam Thai Nguyen (SEVT), specializing in high-end smartphones, continued its leadership role despite a 9.6% dip in revenue to 7.922 trillion Won. SEVT successfully turned losses into profits, recording a remarkable 492 billion Won in earnings compared to a loss of 1.18 trillion Won in the previous year.

Samsung Electronics HCMC CE Complex (SEHC), located in Ho Chi Minh City, added to the positive momentum with a 12.2% increase in revenue, reaching 1.843 trillion Won, while profits soared by 72.8% to 117 billion Won.

Samsung Electronics Vietnam (SEV) in Bac Ninh posted impressive revenue growth of nearly 37%, totaling 6.099 trillion Won, although profits dipped slightly to 379 billion Won.

Meanwhile, Samsung Display Vietnam (SDV), which focuses on screens and displays, faced a decline in both revenue and profits.

For the nine-month period, the Vietnamese factories contributed 63.821 trillion Won (45.57 billion USD) to Samsung’s global revenue, constituting 28.4% of the total. However, profits decreased by 23.6% year-on-year to 4.18 trillion Won (2.98 billion USD).

SEVT maintained its top position in terms of scale, with nine-month revenue reaching 26.411 trillion Won, followed by SEV at 17.05 trillion Won. SDV and SEHC each contributed over 20 trillion Won to the combined revenue.

While challenges remain in terms of profit margins, Samsung’s Q3 performance in Vietnam showcases a promising recovery and a significant contribution to the corporation’s global resurgence.

Vu Hao

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