LG Innotek expands camera module production in Vietnam
VOV.VN - LG Innotek, a subsidiary of LG Group, has completed the expansion of its camera module facility in Hai Phong, Vietnam, as part of a broader cost-cutting and global manufacturing strategy, the Korea Times reported.
The newly launched V3 plant, spanning 150,000 square meters at the Hai Phong production complex, more than doubles LG Innotek’s camera module capacity in Vietnam, enabling stable, large-scale supply to leading smartphone makers in the region.
The project stems from LG Innotek’s July 2023 pledge to invest US$1 billion in Vietnam by 2025 to boost its optical solutions capacity.
“With the completion of the V3 plant capacity expansion in Vietnam, profitability in the camera module sector is expected to improve gradually,” LG Innotek CEO Moon Hyuk-soo said.
“We will continue to deliver differentiated value by swiftly proposing advanced technologies to customers, thereby strengthening our leadership in the global camera module market”, he noted.
LG Innotek operates production hubs in both Vietnam and the Republic of Korea to enhance efficiency. Its parent company, LG, is a global leader in consumer and commercial electronics, known for its LG SIGNATURE line and LG ThinQ smart brand.
LG Energy Solution eyes EV battery factory in Phu Tho
VOV.VN - The world’s second-largest electric vehicle battery manufacturer, LG Energy Solution (LGES), plans to build a battery manufacturing plant and combined charging-swapping stations for electric motorbikes in Phu Tho province, Vietnam, with funding support from the Republic of Korea’s official development assistance (ODA).
