Monday, 17 Dec 2018
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ECONOMY

Vingroup to launch smartphone under Vsmart brand next week

Updated at Monday, 03 Dec 2018, 16:40
The Hanoitimes - These are the first products and part of Vingroup’s new development strategy with a focus on industry and technology.
Vietnamese conglomerate Vingroup is scheduled to launch the first four smartphone models under the Vsmart brand on December 14, stated the group.
 
Illustrative photo.
Illustrative photo. Source: Vingroup.
These are the first products and part of Vingroup’s new development strategy with a focus on industry and technology, according to the group, whose business scope ranges from real estate, retail to health care, education, and automobile production.

Vsmart smartphones are produced at the Vsmart phone production factory in the VinFast complex six months after Vingroup’s announcement of the establishment of its subsidiary VinSmart and making a foray into smartphone manufacturing. The factory has a capacity of five million devices per year.

On July 5, Vinsmart signed a strategy partnership agreement with Spanish-based technology company BQ to accelerating the production of Vsmart-branded smartphones in accordance with international standards.

By holding a 51% stake in the Spanish company, VinSmart can take advantage of BQ's strengths in almost all phases of the value chain of producing smart electronics, starting from design, research and development to production

Moreover, BQ is cooperating with many leading technology companies around the world such as Qualcomm, Google, and Spanish universities for research and development, thereby integrating the world's modern technologies into Vsmart products.

Nguyen Viet Quang, vice president and CEO of Vingroup, said the upcoming launch of the four Vsmart smartphone models shows Vingroup’s determination to enter the field of industry – technology. 

At present, Vingroup is still in search of leading partners and experts to refine its production chain, he said, adding that Vsmart phones and VinFast cars would contribute to the development of Vietnam’s industry and taking the Vietnamese brands to the world stage. 

On June 12, Vingroup established VinSmart with charter capital of VND3 trillion (US$132 million) to produce smartphones and other smart electronics devices. VinSmart will also conduct research on artificial intelligence.
Ngoc Mai
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