Samsung announces $500 million investment in Mexico to ramp up production of TVs and more

According to SamMobile reports, Samsung continues to make significant investments to improve its global manufacturing facilities. Much of Samsung’s recent investments have been in building new chip production facilities. And now the company has set aside a fortune to ramp up the production of other products.

Mexico is one of many countries where Samsung has manufacturing facilities. Samsung manufactures home appliances mainly at its plants in Mexico. The company will now invest heavily in Mexico to increase the production of home appliances.

Mexican Foreign Minister Marcelo Ebrand announced that Samsung will invest 500 million US dollars in Mexico to promote the production of household appliances, and the investment will be carried out in Queretaro in central Mexico. Ebrand added that he has met with Samsung Electronics CEO Han Jong-Hee to discuss the details of the investment.

Samsung already operates a TV assembly plant in Tijuana, Mexico, with an annual output of about 19 million units. The factory is important to Samsung’s overall TV strategy in North America. Equipment from the Tijuana factory is sold across the continent, which also happens to be one of Samsung’s largest TV markets.

Therefore, Samsung is very willing to make additional investments in Mexico to further increase TV production and improve product price competitiveness. Having a manufacturing base in Mexico allows Samsung to effectively cater to the entire North American market.

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