A subsidiary of Samsung Electronics Co Ltd plans to invest another $3 billion in Vietnam to boost display module production capacity, a person with direct knowledge of the matter told Reuters on Friday.

The investment by Samsung Display will be spread out over several years until 2020, the person said. The company plans to boost production of several displays, including organic light-emitting diode (OLED) screens.

Last year, Samsung Display invest $1 billion to set up an OLED display module assembly plant in Bac Ninh province, which has started production in the first quarter. The source said the company has yet to decide on how the additional investment will be made.

Samsung Electronics has been ramping up production capacity in Vietnam in a bid to lower production costs amid intensifying competition in the smartphone market. The company is a key customer for Samsung Display.

(Reporting by Se Young Lee; Editing by Miral Fahmy)

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