The South Korean technology giant, Samsung Electronics Co Ltd which is the world’s top television maker has stopped its TV production in Thailand in the first quarter.
This has been done by the company in order to streamline its global manufacturing footprint. This move by Samsung comes after the company had announced a $560 million investment last year to build a consumer appliances plant in Vietnam.
This plant will be used to mainly produce TVs and is part of the company’s efforts to boost output across segments including smartphones and displays in the lower cost country.
However it’s still not clear whether the company would move its existing TV production from Thailand to Vietnam. What is clear though is that labor is very cheap in Vietnam compared to Thailand and the China based suppliers of Samsung are much closer to Vietnam.