Profit of Samsung’s 4 major Vietnam plants doubles in Q1, led by Thai Nguyen province site

Four major Vietnam-based subsidiaries of Samsung Electronics reported combined net profits of $1.29 billion in the first quarter of this year, more than double from a year earlier, according to the group’s Q1 consolidated financial statements.

The four units - Samsung Electronics Vietnam Thai Nguyen (SEVT), Samsung Electronics Vietnam (SEV), Samsung Display Vietnam (SDV) and Samsung Electronics HCMC CE Complex (SEHC) - form a key part of Samsung’s global manufacturing network, producing more than half of the company’s worldwide smartphone output alongside other electronics products.

In January-March, the four Vietnam sites booked total revenue of $17.6 billion, up 16.8% year-on-year. As a result, they together accounted for 19.9% of Samsung’s $89 billion consolidated revenue during the period.

Among the subsidiaries, Samsung Electronics Vietnam Thai Nguyen (SEVT), based in the northern province of Thai Nguyen, generated the biggest revenue at KRW12.94 billion ($8.54 billion), up 20% from the previous year.

Notably, it booked profit of KRW1.07 billion ($703.88 million), up 176%. The figure is the highest of all Samsung subsidiaries globally.

Samsung Electronics Vietnam (SEV), located in the northern province of Bac Ninh, followed with KRW6.85 billion ($4.52 billion) in revenue and KRW609.63 million ($402.53 million) in profit.

Samsung Display Vietnam (SDV), also in Thai Nguyen, reported KRW4.93 billion ($3.25 billion) in revenue and KRW179.93 million ($118.81 million) in profit.

Samsung Electronics HCMC CE Complex (SEHC), located in Ho Chi Minh City, posted revenue of KRW1.94 billion ($1.28 billion) and profit of KRW96.69 million ($63.84 million), down 4.7% and 34.2% year-on-year, respectively.

Besides, Samsung’s filing disclosed the establishment of a new wholly-owned entity, Samsung Vietnam Semiconductor (SVS), incorporated in Q1 as a semiconductor production subsidiary. SVS carried no material financial activity in the period.

Samsung has invested over $24 billion in Vietnam, making it the country’s largest foreign investor. Beyond the four subsidiaries, the group also operates other major facilities such as Samsung SDI Vietnam, Samsung Electro-Mechanics Vietnam, and a major research and development center in Hanoi, with most of its manufacturing ecosystem concentrated in northern Vietnam.

In 2025, Samsung Vietnam recorded revenue of $64.9 billion and export value of $57.1 billion.