Four Samsung subsidiaries in Vietnam recorded a total profit of $4.7 billion, down 20 percent from 2017, according to a recent financial statement issued by the South Korean corporation. Samsung Ho Chi Minh City CE Complex was the only company to have its profit increase, posting a year-on-year surge of $30 million, or 10 percent. Samsung Electronics Thai Nguyen, the corporation’s largest subsidiary in Vietnam, reported the steepest profit drop of all three companies at $820 million, or 30.6 percent. Samsung Display Vietnam had its profit down by almost $200 million, or 18 percent. Samsung Electronics Vietnam, also known as Samsung Bac Ninh, saw a profit fall of $150 million, or 8.5 percent. Lower profits in the second half of last year led to the dismal figures. Both Samsung Bac Ninh and Thai Nguyen reported a second half profit of almost $900 million last year, a steep year-on-year drop of more than 50 percent. Samsung Thai Nguyen saw its profit in the last quarter of 2018 fall … [Read more...] about Samsung Vietnam sees 2018 profits plummet
Note 7 explosions
Samsung Galaxy Note 7 banned on Vietnamese planes
The Civil Aviation Authority of Vietnam (CAAV) has issued an instruction telling airlines to warn passengers against putting Samsung Galaxy Note 7 phones in their luggage due to the risk of battery fires. Samsung Galaxy Note 7 The instruction also requires airlines to stop providing charging service for those phones during flights, citing the recommendation of the US Federal Aviation Administration (FAA) on September 8. Airline carriers are to report on relevant issues to the CAAV before September 23, 2016. Previously on September 9, the Singapore Airlines also banned the use of Galaxy Note 7 on all of its flights. The same day, China Airlines and EVA Airways of Taiwan said they will not allow those phones in checked luggage. China Airlines also advised passengers not to turn on or charge the phones during flights. The smart phone maker Samsung of the Republic of Korea launched Galaxy Note 7 in early August. Over 2.5 million sets have been sold in 10 markets worldwide. … [Read more...] about Samsung Galaxy Note 7 banned on Vietnamese planes
Key exports rebound
Tra fish is among products that have successfully overcome export difficulties in recent months Phones, rice and fish Telephones are among key Vietnamese exports, accounting for 20 percent of the country’s total export value. However, due to the Samsung Galaxy Note 7 explosion incident in late 2016, the export value of these products decreased continuously until the end of the first quarter of this year. In the first three months of 2017, telephone export value was down US$888 million compared with the same period last year. After the incident, Samsung Vietnam launched a variety of new products to make up for the shortcomings of the Galaxy Note 7. The company has also expanded production. Samsung Display’s expansion project has launched its products. The resumed growth of Samsung Vietnam’s export value has contributed significantly to the increased export value of telephones and components. Data from the Ministry of Industry and Trade (MoIT) show that export … [Read more...] about Key exports rebound
Phone sales speed up export growth
Phones and components accounted for 21 percent of Vietnam’s export value in the first 10 months of 2017 In the first quarter of this year, phone and component exports dropped US$888 million in value compared to the same time last year due to Samsung Vietnam’s Samsung Note 7 battery explosion incident in late 2016. Phan Van Chinh, Director of the Ministry of Industry and Trade’s Import-Export Department, said this incident resulted in export growth of only 15.1 percent instead of 19 percent. Samsung Vietnam’s exports began to recover and grow again in the second quarter of the year, contributing significantly to phone and component exports in particular and the country’s exports in general. According to the Ministry of Industry and Trade, phone and component exports yielded about US$5 billion in October 2017 (up 76.4 percent from October 2016), taking the total to US$36.5 billion in the first 10 months of 2017, up US$8.18 billion or 28.8 percent from … [Read more...] about Phone sales speed up export growth
Social News 5/4 (Hourly Updated)
Twenty-seven more communes and wards this year join family medical practice A health staff member takes blood for testing at An Hòa ward health station in Cần Thơ City’s Ninh Kiều District. Source http://soytecantho.vn The Department of Health in the Mekong Delta city of Cần Thơ this year plans to expand a model of family medical practice clinics to 27 more communes and wards. Family medical practice clinics aim to provide comprehensive and continuous health care services to each local individual and family in order to reduce overcrowding of patients at city or central-level hospitals. These clinics are located at health stations in communes and wards. Each commune or ward has one health station. Cần Thơ aims to equip more than 80 per cent of its 85 health stations with these clinics by 2020. According to Dr Bùi Thị Lệ Phi, the department’s head, the city now has 18 commune-based health stations with family … [Read more...] about Social News 5/4 (Hourly Updated)