In the first quarter of 2023, Samsung’s four factories in Vietnam made nearly $1.2 billion in profit, compared to losing $180 million in the final quarter of 2022. However, Samsung Electronics Vietnam (SEV) recorded a loss of about $116 million USD, while Samsung Thai Nguyen (SEVT) lost nearly $90 million and Samsung Electronics HCMC CE Complex (SEHC) lost 15 million USD. The only unit with a profit was Samsung Display Vietnam (SDV) with over $40 million USD.
In the first three months of this year, these Vietnamese establishments returned to profit. Samsung Electronics achieved revenue of around 71,920 billion won ($54 billion USD), with their four factories in Vietnam contributing about $30% to that revenue, equivalent to $16.25 billion USD. This was an increase of about $2 billion compared to the previous quarter.
Samsung Thai Nguyen contributed the most revenue and profit to the Korean electronics giant, with $8.16 billion in revenue and $707 million in profit. Samsung Electronics Vietnam followed with $4.2 billion in revenue and $300 million in profit. Samsung Display Vietnam and Samsung Electronics HCMC CE Complex achieved revenues of $2.65 billion and $1.24 billion, respectively. The profit for Samsung Display Vietnam was about $123 million, 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, attributed to sales of the Galaxy S24 smartphone line and rising memory semiconductor prices
