LG wants to build more factories in Vietnam
NGUYỄN ĐỨC TUẤN - 05/04/2019
Korean press reported on July 13 that LG Innotek, in charge of LED and auto parts of LG Group, plans to open a camera cluster factory (camera module) in Hai Phong, with the aim of providing equipment. For Apple with cheaper prices.
The Korea Herald quoted an industry insider that Apple recently urged LG Innotek to build a camera cluster in Vietnam, which has cheaper labor costs in China and South Korea. The plant is expected to operate in 2018.
According to this page, LG Innotek has just been selected as an exclusive supplier of camera clusters for Apple iPhone 7 after the factory of Sony in Japan is affected by the earthquake.
Last month, LG Innotek started producing dual-lends dual-lends cameras for the iPhone 7 that will be available in the coming months.
Currently LG Innotek is producing camera clusters at factories in Gumi and Gwangju in Korea and Yantai in China.
In addition, the share price of LG Innotek increased with support from J.P Group's buying recommendation. Morgan. Accordingly, LG Innotek's profit margin will increase due to reducing production costs if opening factories in Vietnam.