SEOUL, November 22 (AJP) - South Korea's LG Innotek, the supplier of camera modules to Apple iPhones, announced on Thursday it will make 375.9 billion won (US$270 million) additional investment in Viet Nam.
This is part of a plan the company unveiled last year to invest 1.3 trillion won to expand its production subsidiary in Hai Phong.
The Hai Phong production subsidiary mainly manufactures camera modules, and the additional production lines are scheduled for completion in the second half of 2024, with mass production set to begin in 2025.
According to the firm, the expansion will more than double the camera module production capacity at the Viet Nam factory.
In the third quarter of 2024, the firm's optical solutions division's revenue amounted to 12.3 trillion won, accounting for 82.6 percent of the company's total revenue.
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