Vingroup announces plan to produce smartphones

Private business conglomerate Vingroup announced on June 12 its plan to produce electronic devices, firstly smartphones under the brand of Vsmart.

The Vsmart mobile phone factory will be built at the VinFast automobile and electric motorbike manufacturing complex in the Dinh Vu-Cat Hai industrial park in the northern port city of Hai Phong.(Photo: VNA)

The Vsmart mobile phone factory will be built at the VinFast automobile and electric motorbike manufacturing complex in the Dinh Vu-Cat Hai industrial park in the northern port city of Hai Phong.(Photo: VNA)

Together with VinFast automobiles, Vsmart mobile phones produced by Vingroup are expected to boost the domestic industry’s development in the future.

To this end, Vingroup established VinSmart Company with chartered capital of 3 trillion VND (around 132 million USD). The newly-formed company will operate in two major fields: manufacturing electronic equipment and conducting research, experiment and application of artificial intelligence (AI), automation and new-general materials.

The Vsmart mobile phone factory will be built at the VinFast automobile and electric motorbike manufacturing complex in the Dinh Vu-Cat Hai industrial park in the northern port city of Hai Phong. 

The group is working with leading world companies to hire consultants, designers and experts, and purchase design copyrights for components of smartphones as well as production lines.

Vingroup Vice Chairman and General Director Nguyen Viet Quang said the plan affirmed the conglomerate’s resolve to build up knowledge- and science-based production, thereby helping to enhance the national economy’s efficiency.

The company is expected to make public its first electronic motorbikes in September 2018. Meanwhile, its SUV and Sedan automobiles are scheduled to be introduced to the market in the second quarter of 2019.

VinFast is also hoped to heat up the local market with electronic automobiles at the end of 2019.

Vietnamplus

Other news

Most view

Vietnam imported more than 3,664 cryptocurrency mining rigs in the first six months of the year. (Photo: cafef.vn)

Vietnam stops importing bitcoin mining machines

Vietnamese businesses and individuals have stopped importing bitcoin mining machines since the beginning of July, according to the Ho Chi Minh City Customs Department.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SGN lists 24million shares on HOSE

 Saigon Ground Services JSC (under code: SGN) will list on the Ho Chi Minh City Stock Exchange (HOSE) 24 million shares for the first time starting on August 1st at a reference price of VND 140,000 per share.