10-Jun-19, Euronews
Vingroup JSC, Vietnam’s biggest listed firm by market value, said on Monday it has started work on a second smartphone factory with a capacity to produce 125 million units a year.
%20Reuters_Mai%20Nguyen.jpg "Vietnams Vingroup says new phone plant can make 125 million units per year (c) Reuters Mai Nguyen")
Image: Reuters / Mai Nguyen
The new factory in the capital, Hanoi, will vastly increase Vingroup’s current capacity of five million units at its facility in the northern city of Haiphong. Construction is expected to be completed by early 2020 and the jump in capacity will help the company meet orders from Europe and the United States, Vingroup CEO Nguyen Viet Quang said.