After acquiring a 30% stake in Vietnam-based CMC Corp three years ago, Samsung SDS Vietnam has made a profit of over VDN1.8 trillion (US$80 million) from the investment, according to Vietnam Insider. The Samsung group has been directly and indirectly investing in Vietnam since 1996 and is one of the largest foreign investors in Vietnam.
Samsung SDS and CMC partnered up to develop solutions to smart manufacturing, cloud, security and protection systems. Both companies will make a foray into AI, blockchain, and big data together.
Samsung SDS started investing in CMC in August 2019 and became the largest shareholder of the Vietnamese firm. CMC share price plunged in March 2020 when COVID-19 hit the world, but rebounded in July 2021. Its share price reached a record high at VND64,000 (US$2.8) and steadied at VDN55,500.
Currently, CMC focuses on providing telecom services and developing digital solutions. It reported VND1.84 trillion in revenue in the third quarter of 2021, increasing by 19% on year.
