The company would kick off the expansion project within the second half of this year, targeting full operation by the end of 2021 or early next year at the latest, according to The Korea Economic Daily.

Samsung's plant in the northern province of Bac Ninh.

This is to increase Samsung’s annual production capacity of foldables by 47 percent from the current 17 million to 25 million.

Experts say once Samsung completes the expansion, the company would be able to produce 10 million units of Galaxy Z Fold models and 15 million units of Z Flip models a year.

Samsung’s decision to ramp up capacity is mainly driven by soaring market demand. Its third-generation foldable models recorded 920,000 pre-orders in South Korea, 1.8 times more than its latest smartphone Galaxy S21, the report stated.

"Samsung’s factories that make foldable devices are already operating at full capacity. Samsung has no option but to expand its facilities," a source told the newspaper.

It will likely add three more production lines to its current seven, which would allow the company to manage the production volume more flexibly, the source added.

Samsung, the biggest foreign investor in Vietnam, has six plants and is building a new research and development center in Hanoi, which would open next year. Around 3,000 Vietnamese engineers are set to be employed there.

The South Korean company has invested over $17.7 billion in Vietnam, has 110,000 employees and exported over $56 billion worth of products last year.

Bac Giang: 244 businesses arrange accommodation for workers at companies

(BGO) – Targeting to accelerate the production value and ensure safety amid Covid-19 pandemic, many businesses in Bac Giang province have arranged accommodation for workers at their campus.

Businesses at industrial parks tighten pandemic preventive measures

(BGO) – Covid-19 pandemic has complicatedly developed in several provinces and cities nationwide. Bac Giang province has two new hotspots. Though no more case was detected in the industrial parks, the businesses have highly focuses on synchronously implementing strict control solutions to prevent new outbreak.

Businesses regain growth momentum

(BGO) - Over the past two months, with the support of authorities at all levels and relevant agencies, businesses in Bac Giang province have made great efforts to overcome difficulties due to the impact of the Covid-19 epidemic to restore production and business, returning to the new normal. To date, all enterprises inside and outside the industrial parks have resumed operations, with industrial production value growing quite well.

Effective "four safes" model in businesses

(BGO) - To prevent and control the Covid-19 pandemic in the new situation, the principle of "four safes" under Directive 11, dated July 28, 2021, of the Chairperson of the provincial People's Committee has been thoroughly realised by authorities at all levels and sectors, thereby helping businesses stay safe from the epidemic, and restore production and business.

PM orders law revision to solve difficulties in investment, business

Prime Minister Pham Minh Chinh has sent a dispatch to several ministers, ordering a revision of laws to address difficulties in investment and business amidst complex developments of the Covid-19 pandemic.

Source: VnExpress