Samsung Display’s OLED Exports to Vietnam Skyrocket 59-Fold

There has been a significant increase in Samsung Display’s export value of OLED panels for laptops and tablets from Asan, South Chungcheong Province, South Korea, to Vietnam. In May 2024, the export value reached $150.47 million for the first five months of 2024, a 59-fold increase compared to the same period last year ($2.55 million). This growth is primarily attributed to the increased supply of OLED panels used in Apple’s iPad.

The export value of shipments of OLED panels in the first give months of 2024 to Vietnam in thousand of dollars. (Source: TRASS)

Samsung Display’s main production base for OLED panels is located in Asan, South Korea. In Vietnam, there is a dedicated production line that assembles these OLED panels into display modules. This line plays a crucial role in integrating the panels into finished products for the IT equipment market. Earlier this month, Samsung Electronics Chairman Lee Jae-yong discussed plans with Vietnamese Prime Minister Pham Minh Chinh to make large-scale investments in Vietnam over the next three years. The goal of these investments is to develop Vietnam into the world’s largest display module production base, emphasizing the strategic importance of Vietnam in Samsung Display’s global production network. At least for now.