LG Innotek Sets Sights on Global Leadership with New Vietnam Expansion
LG Innotek Co. inaugurates a new smartphone camera module factory in Vietnam as part of a dual production strategy with its Gumi facility in South Korea. The expansion aims to increase global competitiveness and enhance production efficiency through advanced AI technology and strategic regional operations.
- Country:
- India
South Korean electronics heavyweight LG Innotek Co. has announced the completion of a new camera module manufacturing plant in Vietnam. The facility in Hai Phong marks a significant step in the company's strategy to fortify its global production network.
Operating alongside LG Innotek's established Gumi plant in North Gyeongsang Province, the Vietnamese site will serve as a core hub for the mass-production of standard camera modules. This strategic dual production approach is designed to boost cost competitiveness and advance the company's standing as a global leader in camera module manufacturing.
The ambitious expansion includes an investment of 1.3 trillion won (USD 930 million) set to enhance its optical solutions capabilities by 2025. The Vietnam plant, sprawling over 150,000 square meters, more than doubles LG's camera module capacity to fulfill large-scale orders.
(With inputs from agencies.)
Google News