Thursday, 20 Sep 2018
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INVESTMENT

Vingroup to partner with Spain's BQ in smartphone production

Updated at Friday, 06 Jul 2018, 16:24
The Hanoitimes - Vingroup`s cooperation with BQ marks the first step towards the creation of made-in-Vietnam smartphones under the Vsmart brand, Vingroup said in a statement.
Vinsmart, a subsidiary of Vietnam's largest privately-run conglomerate Vingroup, and Spain-based technology company BQ on July 5 signed a strategic partnership agreement, aiming for accelerating the production of Vsmart-branded smartphones in accordance with international standards, Vingroup announced on its website. 
 
Nguyen Mai Hoa, general director of Vinsmart and Alberto Méndez Peydró, ceo of BQ at the signing ceremony.
Nguyen Mai Hoa, general director of Vinsmart and Alberto Méndez Peydró, ceo of BQ at the signing ceremony. Source: Vingroup.
"Together with VinFast, VinSmart's smartphones will contribute to the development of Vietnam's industry and take the Vietnamese brand to the world stage," said Nguyen Mai Hoa, general director of VinSmart, at the signing ceremony. 

Under the agreement, VinSmart will acquire intellectual property rights from BQ to develop two models of smartphone for the high-end and mid-range segments under the Vsmart brand. 

According to Vingroup, this is an important stepping stone towards the launch of locally-made smartphones with future-oriented design and European-standard technology. 

In addition, 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, the company added.

VinSmart will also cooperate with BQ in the process of product research and development, with the aim of applying the world's most advanced technologies to the smart electronics 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.

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, while its plant will be located in Haiphong, stated Vingroup.
Nguyen Tung
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