Samsung Display plans to invest another $2.5 billion in Vietnam: Yonhap

Samsung QLED televisions are displayed during the 2017 CES in Las Vegas, Nevada January 5, 2017. REUTERS/Steve Marcus

SEOUL (Reuters) - Samsung Electronics Co Ltd’s display panel subsidiary plans to invest another 3 trillion won ($2.51 billion) in Vietnam to boost capacity, South Korea’s Yonhap News Agency reported on Tuesday, citing unnamed sources.

Samsung Display is in talks with Vietnamese authorities about the additional investment, Yonhap reported without elaborating further.

A Samsung Display spokeswoman declined to comment on the Yonhap report. A person familiar with the matter told Reuters separately on Tuesday the South Korean panel maker is considering additional investment in Vietnam but did not comment further including on how much the company plans to spend.

Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.

($1 = 1,196.7700 won)

Reporting by Se Young Lee; Editing by Muralikumar Anantharaman