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Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
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Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)

South Korean electronic manufacturer Samsung Display Co plans to invest $1.8 billion for a factory this year in northern Vietnam to produce OLED displays for automobiles and technology equipment, the Southeast Asian country said on Sunday.

The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing Samsung electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.

Bac Ninh authorities and Samsung Display on Sunday also signed a memorandum of understanding of the project, local media reported, adding the investment would raise Samsung's total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.

Vietnam has over the last decade emerged as one of the most attractive production hubs for electronics companies.

According to Choi, Samsung has established six manufacturing plants, one research and development center, and one sales entity in Vietnam, with a cumulative investment of $22.4 billion.

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Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
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Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)

Pinterest shares jumped more than 11% on Friday, after a strong quarterly revenue forecast allayed investor jitters about the uncertainty of advertising spending on its platform amid global economic volatility.

Its robust first-quarter revenue positions it alongside peers Reddit and Facebook-parent Meta, which also saw strong top-line results at a time when deepening global trade tensions have clouded the outlook for many firms dependent on marketing spend.

A shifting US trade policy coupled with escalating geopolitical tensions have sparked fears of a spike in inflation levels and a possible recession, prompting a broader pullback in consumer and enterprise spending.

However, Pinterest's focus on strengthening the effectiveness of its artificial intelligence tools for creating ad campaigns and a growing Gen Z userbase makes it an attractive destination for marketers.

"AI is helping to serve up the right type of ads for different audience segments, which ultimately means there could be a greater propensity to click on the ad if it is relevant," said Dan Coatsworth, investment analyst at AJ Bell.

Pinterest's global monthly active users rose 10% from a year earlier to 570 million in the first quarter, exceeding analysts' expectations according to data compiled by LSEG.

"We believe Pinterest's strategic focus on AI improvements and international expansion is yielding results," said Angelo Zino, senior equity analyst at CFRA Research.

Pinterest flagged a reduction in spending from Asian e-commerce retailers due to the roll-back of the "de minimis" exemption earlier this year, which led notable Chinese advertisers including online marketplace Temu and fast-fashion retailer Shein to slash ad budgets.

Barclays analysts said they expect "trends to worsen in e-commerce advertising" later this year if and when tariffs impact consumer spending.

If gains hold, Pinterest is set to add around $2 billion to its market cap.

The company trades at 14.51 times the estimates of its earnings for the next 12 months, compared with Reddit's 67.65 and Snap's 22.19.