Sony Announces Closure of TV Assembly Plant in Vietnam

Sony Corp announced in Tokyo on Friday that it plans to close its TV assembly plant in Vietnam in September and lay off 200 people, but that the closure is expected to have little impact on its earnings.

Sony has been manufacturing cathode ray tube and liquid crystal display TVs at the Ho Chi Minh City plant for Vietnam’s domestic market. Vietnam’s entry into the World Trade Organisation last year means lower tariffs for finished products, prompting Sony to ship TV sets made elsewhere to Vietnam instead of assembling them locally. Sony declined to disclose the production capacity of the plant, but said the size is fairly small as it is designed to meet only domestic demand.

Via Reuters