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Top 10 electronics companies in Vietnam

Top 10 electronics companies in Vietnam

Thursday 25, 08 2022
The Vietnam Country Report 2022 by VietnamCredit included the electronics industry in Vietnam as one of the five promising sectors for investment in 2022.

Industry Overview

The electronics industry is a manufacturing industry that has a key position in the economy, and a strong spillover effect onto other industries. Vietnam's electronics industry currently accounts for 17.8% of the entire economy industry sector, mainly producing electronic products, computers and optical products.

Despite COVID-19, the electronics industry still grew quite well in 2021 in both the industrial production index and export turnover.

The industrial production index of the electronic products, computers, and optical products manufacturing industry generally increased by 9.6% in 2021, compared to 2020. Mobile phone production in 2021 extended to 233.7 million units, up 7.6%; television output reached 11165.7 thousand units, down 38.6%; the output of phone components was estimated at VND 480.8 trillion, up 29.5%.

industrial production index

Notably, in 2021, the export turnover of computers, electronic products, and components were estimated to be worth USD 51 billion, up 14.4% compared to 2020. Exports of phones and components reached USD 57.54 billion, up 12.4% compared to 2020: of which, the export of phones and components to the Chinese market reached USD 15.18 billion (+23%); to the US market USD 9.69 billion (+10.3%); and to the EU (27 countries) USD 7.89 billion, (-9.1%) over the previous year.

VIETNAM COUNTRY REPORT 2022

It can be seen that the electronics and components industry in Vietnam, although newly formed, has grown very strongly. Currently, Vietnam is among the 12th largest electronics exporter in the world and the 3rd in ASEAN. The continued expansion of projects by investors will contribute to promoting the development of the electronics industry and attracting new investors to the Vietnamese market in 2022.

Top 10 electronics companies in Vietnam

The Vietnam Country Report 2022 prepared by VietnamCredit revealed the top 10 companies in the  industry of Vietnam in 2021. Companies of Samsung in Vietnam held 4 out of 10 spots on the list of top 10 electronics companies in Vietnam in 2021.

Samsung Electronics Vietnam Thai Nguyen Company Limited topped the list of Vietnam’s top 10 electronics companies in 2021. The net sales of Samsung Electronics Vietnam Thai Nguyen in 2021 were VND 554,327,415,402,531.

Samsung

In second place is Samsung Electronics Vietnam Company Limited – the first factory Samsung opened in Vietnam, located in Bac Ninh. The company’s net sales in 2021 were VND 392,896,492,990,335.

In third place is Samsung Display Vietnam Co., Ltd, which specialized in manufacturing display panels. The company was established in 2014. Its net sales in 2021 were VND 383,061,536,958,280.

Another factory of Samsung in Thai Nguyen, Vietnam – the Samsung Electro-Mechanics Vietnam Co., Ltd, claimed the sixth spot on the top ten list. The Samsung Electro-Mechanics project came into operation in 2015, with a total investment of USD 1.35 billion. Earlier this year, in February, the factory was granted an increase in investment capital. Specifically, the investment capital of the Samsung Electro-Mechanics factory in Thai Nguyen increased from USD 1.35 billion to USD 2.27 billion.

 LG Innotek Vietnam Haiphong Company Limited

Another big name in the field of electronics – LG, also took two spots on the top 10 list. LG Display Vietnam Haiphong, established in 2016, ranked fourth with net sales of VND 101,271,202,944,710. In August 2021, LG Display Vietnam Haiphong increased its investment capital by USD 1.4 billion, thereby bringing the total capital to USD 4.65 billion.

The other LG representative is LG Innotek Vietnam Haiphong Company Limited, with net sales of VND 34,396,299,471,858 in 2021.

Other notable names include Funing Precision Component Company Limited in fifth place (net sales VND 51,463,154,215,559), Fuhong Precision Component (Bac Giang) Company Limited in seventh place (net sales VND 39,537,246,992,449). Canon Vietnam Company Limited and Intel Products Vietnam Co., Ltd is in eighth and ninth place, with net sales of VND 39,135,114,380,220 and VND 38,405,135,915,100, respectively.

 

VietnamCredit

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