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Vietnam says Galaxy Note 7 incident has "insignificant impact" on cellphone export

Xinhua, October 28, 2016 Adjust font size:

Battery failure on Samsung Galaxy Note 7, resulting in recalling and export halt of the product in Vietnam, has had "insignificant impact" on the country's export revenue of cellphones and accessories, said Vietnam's General Statistics Office (GSO) on Friday.

According to a report on GSO's website, the incident affected Samsung's operation in Vietnam, causing profit reduction.

However, its impact on Vietnam's export revenue of cellphones and accessories in October and the first ten months this year remains "insignificant," said the office.

This is attributed to the fact that Galaxy Note 7 is mostly sold in Vietnam's domestic market while the minority is for exports as well as that Samsung Vietnam has speeded up exports of other cellphones to make up the hole that Note 7 left, said GSO.

In October alone, Vietnam is forecast to see a decrease of 3.9 percent in export revenue of cellphones and accessories against September.

Meanwhile, in the first ten months, the country's export revenue of the item is projected to go up 10.3 percent year-on-year to hit 28.3 billion U.S. dollars.

It is forecast that the Galaxy Note 7 incident will continue to have direct impact on Vietnam's export revenue in 2016 at insignificant extent, leaving the country's export growth to reduce 0.3 percentage points, said GSO.

In total, in October, Vietnam is expected to earn 15.5 billion U.S. dollars from exports, bringing the ten-month export figure to 144.1 billion U.S. dollars, up 7.2 percent year-on-year. Endit