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Samsung Electronics has made Vietnam a major part of its global strategy for smartphone production.   © EPA/Jiji
Business Spotlight

Samsung smartphone slump casts shadow over Vietnam

South Korean tech titan reluctant to meet Hanoi request for chip plant

KIM JAEWON and LIEN HOANG, Nikkei staff writers | Vietnam

SEOUL/HO CHI MINH CITY -- Samsung Electronics' slumping smartphone business and a decline in investment by South Korean companies are casting a shadow over Vietnam, a Southeast Asian economy that relies heavily on the technology giant.

South Korea's foreign direct investment in Vietnam for the first five months of the year plunged 67.6% to $670 million from a year ago, according to the Korea International Trade Association. Vietnamese statistics also show South Korean FDI slumping as global demand falters.

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