Vietnam

As previously reported, Nokia on Monday held a groundbreaking ceremony that kicked-off development of the company’s first manufacturing facility in Vietnam. The new plant is located in Vietnam-Singapore Industrial Park in Bac Ninh province and is beng developed on 42 acres of land. Nokia plans to open the factory in early 2013 and create as many as 10,000 new jobs while producing 45 million handsets by the end of 2014. “Thanks to the valued support from the Vietnamese government, our manufacturing program in Vietnam has been progressing well,” said Mary McDowell, Nokia’s Executive Vice President of Mobile Phones. “The new Nokia manufacturing plant will produce and provide new devices for compelling and affordable, localized mobile experiences, particularly in the growth markets.” Nokia’s press release follows below. More →

Over the last few months, Nokia has closed scaled back several of its Western factories and shed over 3,000 employees in a recent effort to cut costs. The Finnish handset maker will shift its manufacturing business to Asia and is planning to build a plant in Vietnam, a move that is expected to cost some $300 million according to Vietnamese news organization BaoMoi. “Shifting device assembly to Asia is targeted at improving our time to market. By working more closely with our suppliers, we believe that we will be able to introduce innovations into the market more quickly and ultimately be more competitive,” Nokia EVP of Markets Niklas Savander previously said. The company will reportedly hold a press conference to officially announce the project on April 23rd. The plant could create as many as 10,000 new jobs and is expected to produce 45 million handsets by the end of 2014. More →