China-based electronics company Xiaomi has invested in manufacturing smartphone components in Vietnam.

Nikkei Asia reports that Xiaomi plans to meet growing domestic demand for smartphones in Vietnam and support exports to Southeast Asia, including Malaysia and Thailand.

Citing a report, Pandaily said Xiaomi is working with Hong Kong-based electronics maker DBG Technology. This company operates a 200,000 square meter factory located in Vietnam. The plant also manufactures data transmission equipment and circuit substrates.

Previously, Xiaomi only produced smartphones in China and India, however, the restrictions caused by the pandemic not only disrupted the supply chain but also reduced Xiaomi's sales, forcing the company to expand to other locations. production point.

Meanwhile, in February this year, Samsung added more investment in Vietnam, which already produces half of its smartphone output. The new $920 million investment will support the company's production of circuit boards and camera modules. The Korean company has two factories in northern Vietnam and employs 100,000 people in the country.

It is known that Xiaomi is in the top of the company with the highest smartphone sales in the world. Xiaomi's smartphone revenue is about 6.79 billion USD, with its smartphone orders globally reaching 38.5 million units in the first quarter of 2022.