TECH - Lam Research Eyes Vietnam To Diversify Supply Chain Away From China: Report | Benzinga
Lam Research Corp (NASDAQ:LRCX) is reportedly exploring its supply chain diversification amid concerns over the impact of U.S. export controls on its business operations in China.
The company’s Group Vice President of Global Operations, Karthik Rammohan, visited Hanoi for discussions with Vietnam’s Prime Minister Pham Minh Chinh, during which the Vietnamese government encouraged Lam Research to commit $1 billion to local production efforts. This initiative is part of Vietnam’s push to become a more significant player in the semiconductor industry, the Nikkei Asia reports.
On its official website, the Vietnamese government disclosed plans for Lam Research to collaborate with Seojin, a South Korean company with production facilities in Bac Ninh and Bac Giang provinces—areas known for Samsung Electronics Co., Ltd.’s (OTC:SSNLF) extensive phone and semiconductor manufacturing activities.
Despite ...