The Vietnamese tech company will develop smart cars, homes and cities in the coming time.
VinSmart, a subsidiary of the conglomerate Vingroup, will stop developing its business unit of televisions (TVs) and smartphones with the brand name of Vsmart for the Vietnamese market.
VinSmart's factory in Hoa Lac Industrial Park, Hanoi. Photo: Vingroup |
The business unit no longer brings breakthrough or create differentiated value for users, according to Nguyen Viet Quang, Vice President and General Director of VinGroup.
“Developing smart cars, smart homes and smart cities will bring more benefits and better experiences for Vietnamese consumers,” said Quang.
The tech maker will switch to developing smart features for vehicles and homes. With nearly 150 infotainment features, Vingroup-invested VinFast cars are expected to have different utilities, creating a competitive advantage in the global auto market, according to the company.
VinSmart will research, design and manufacture electronic components, electric battery cells, complete electric battery systems and electric motors of all kinds, in order to increase localization rates and ensure supply for the car maker VinFast.
VinSmart continues to research on smart cities, smart homes and related Internet of Things devices.
The company released its last smartphone, Star 5, in March. In February, it exported three models to the US market. The 5G-enabled smartphones are sold at the wireless carrier AT&T retail systems under a contract wherein the Vietnamese company will produce two million units for the US wireless carrier.
Earlier this year, Vingroup failed to reach a deal with the South Korean manufacturer LG Electronics to purchase its smartphone business.
A report conducted by the market research firm GfK in March showed the market share of Vsmart in Vietnam was 8.2%, ranking 6th. Samsung, Oppo and Apple led the smartphone market.
In the TV segment, the tech company developed two high-end and mid-range product lines.
Other News
- Vietnam news in brief - May 17
- EVN to have limited role in direct power purchase agreement mechanism
- Vietnam's gaming industry aims for $1 billion in revenue by 2028
- Vietnam c.bank to continue auctioning gold
- South Korea’s Hyosung plans to build data center in Vietnam
- Vietnam in need of US$12 billion for EV infrastructure: HSBC
- Samsung to pour US$1 billion annually into Vietnam
- Vietnam Export Fair 2024: Opportunities to boost exports
- Vietnam's first lotus root export to Japan
- Hanoi to host the Vocational Education Day 2024
Trending
-
Exhibition on Thang Long Imperial Citadel underway in Beijing
-
Hanoi Times Podcast - May 18
-
Pristine white lotus enchants flower lovers in Hanoi
-
Vietnam's central bank to inspect gold trading practices
-
Hanoi's 70th liberation anniversary literary and art contest launched
-
Japanese duo of illusionists to wow audiences in Vietnam
-
Walking tour to experience public arts in the heart of Hanoi
-
Propaganda poster contests launched for Hanoi’s 70th liberation anniversary
-
Bas-reliefs on Hue's nine dynastic urns listed as UNESCO heritage