HANOI: Samsung Electronics Co Ltd has applied for a licence to invest US$3 billion (RM10 billion) in building a second smartphone factory in northern Vietnam, a government official said yesterday. Samsung Electronics Vietnam plans to build the factory in Thai Nguyen province, where it opened a US$2 billion smartphone plant in March, said a senior official at the provinces Planning and Investment Department. Samsung has been increasing production in Vietnam to reduce costs and better compete with Chinese rivals products in particular. Reuters
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