Samsung’s four main factories in Vietnam are Samsung Thai Nguyen (SEVT), Samsung Bac Ninh (SEV), Samsung Display Vietnam (SDV) in Bac Ninh, and Samsung Electronics HCMC CE Complex (SEHC) in Ho Chi Minh City.
The Korean chaebol’s consolidated report for the first quarter of 2025 showed a 39% decline in profit for these factories, totaling 966 billion won (approximately 15.524 trillion VND). This is the lowest first-quarter profit for Samsung in Vietnam since 2016.
This downturn is largely due to the performance of Samsung Thai Nguyen, which has consistently been the top performer among Samsung’s Vietnamese operations in terms of both revenue and profit. While the combined profit of the four factories decreased by approximately 617 billion won, SEVT accounted for 569.7 billion won of this decline. As a result, SEVT’s profit plummeted by 59.6% compared to the previous year, reaching 385.6 billion won. Despite this significant drop, SEVT remains the most profitable Samsung factory in Vietnam.
Meanwhile, SEV and SDV experienced profit decreases of 22.7% and 28.2%, respectively, while SEHC went against the trend with a remarkable 66.8% increase.
In terms of revenue, the four main factories in Vietnam saw a collective increase of 833.4 billion won, representing a 3.8% year-over-year growth, totaling 22.817 trillion won (approximately 366.669 trillion VND).
The revenue of SEV, SDV, and SEHC increased by 11.6%, 3%, and 20.5%, respectively. Similar to the profit trend, the decline in revenue from SEVT, the usual frontrunner, by 2.5% to 10.753 trillion won, resulted in a modest 3.8% overall revenue increase for the four factories.
This 2.5% decline in SEVT’s revenue contrasts with the company’s target for 2025, which aims for a total revenue of 27.8 billion USD (approximately 715.016 trillion VND), representing a 6% increase from 2024. Samsung Vietnam shared this goal with the Provincial Party Committee of Thai Nguyen during a meeting in January.
The increase of 833.4 billion won in revenue was largely attributed to the Samsung Bac Ninh factory, which contributed approximately 659.7 billion won to this growth.
In February 2025, Prime Minister Pham Minh Chinh met with Mr. Choi Joo Ho, then-General Director of Samsung Vietnam, and his successor, Mr. Na Ki Hong. Mr. Na Ki Hong assumed the role of General Director on March 1, 2025.
During the meeting, the Samsung leaders highlighted that the company remains the largest foreign investor in Vietnam, with a total registered investment capital of 23.2 billion USD. In 2024, Samsung achieved impressive figures, with revenue and exports reaching 62.5 billion USD and 54.4 billion USD, respectively.
In addition to the four main factories (SEVT, SEV, SDV, and SEHC), Samsung also operates other significant factories in Vietnam, including Samsung Electro-Mechanics Vietnam (SEMV) in Thai Nguyen and Samsung SDI Vietnam (SDIV) in Bac Ninh.
One of Samsung’s recent significant investments in Vietnam was made in September 2024, when SDV committed to investing 1.8 billion USD in Bac Ninh for the production of OLED screens for mobile phones, IT devices, and automobiles. This was followed by additional investments of 1.2 billion USD in January 2025 and another investment in May 2024, further solidifying Samsung’s presence in the country.
One of Samsung’s factories in Vietnam sees a staggering 65% profit increase, nearing the performance of its Tianjin and Shenzhen plants
Meanwhile, the combined profit of the four main factories, including Samsung Bac Ninh, Samsung Thai Nguyen, Samsung Display, and Samsung HCMC CE Complex, totaled 3.42 billion USD, the lowest since 2016.
The Tech Giant’s Economic Impact: 200 Billion VND in 3 Months
According to the latest statistics from the Thai Nguyen Provincial Statistics Office, as of the end of the first quarter, the province’s budget revenue reached VND 5,150 billion, a remarkable 25% increase compared to the same period last year, and accounting for 22.4% of the yearly estimate. Notably, the Samsung Thai Nguyen Factory contributed significantly to this achievement, generating approximately VND 200 billion in VAT and budget revenue.
Deputy Prime Minister Tran Hong Ha Meets with Samsung Vietnam’s CEO
On August 12, at the Government Headquarters, Deputy Prime Minister Tran Hong Ha met with the CEO of Samsung Vietnam Complex, Mr. Choi Joo Ho.
Samsung Vietnam Achieves $33.5 Billion in Export Turnover in the First Seven Months, Aims for Increased Use of Renewable Energy
On August 12, at the Government Headquarters, Deputy Prime Minister Tran Hong Ha met with the General Director of Samsung Vietnam Complex, Mr. Choi Joo Ho. During the meeting, Mr. Choi Joo Ho presented an overview of Samsung Vietnam’s business performance and highlighted its achievements over the past period.
Samsung, the giant tech company, to invest an additional $1 billion annually in Vietnam, after pouring in more than $22.4 billion over the past 17 years.
In 2023, the global economy continues to face challenges and the global mobile phone market has shrunk, which has affected Samsung’s business operations. The Samsung Group’s export revenue in Vietnam reached 55.7 billion USD.
