Vietnam's exports of handsets and handset components decreased for the first time in 11 years by 0.4% to US$51.18 billion in 2020, according to local media reports, citing data from the General Statistics Office of Vietnam.

The handset and handset component shipments as a proportion of Vietnam's total exports also declined to 18% in 2020, down from 30% a year earlier, the same data showed.

Vietnam shipped its handsets and related components to over 50 countries in 2020. China is its largest outlet taking up nearly 25% of its total export shipments, followed by the EU (19%), the US, Korea, and the United Arab Emirates.

Shipments of handsets by Samsung Electronics accounted for nearly 100% of Vietnam's handset exports. Samsung has invested up to US$17 billion in Vietnam and currently operates two industrial complexes in the country with a total of over 110,000 employees, the local reports said.

The Korean company has announced it will invest an additional US$220 million to build an R&D center in Vietnam slated for completion in 2022.

The R&D center will house 2,200-2,300 employees, focusing its R&D efforts on developing AI, IoT and 5G solutions.