HANOI, May 30, 2019, VN Express. Vietnam’s largest private conglomerate Vingroup began selling its Vsmart phones in Myanmar Wednesday as part of its global expansion strategy. Four Vsmart phone models will be distributed through 1,500 stores of Myanmar’s major electronics retailer Strong Source, Vingroup said in a statement, reported the VN Express.
The company will also cooperate with two online retailers: Mytel, a subsidiary of Vietnam’s leading telecommunication firm Viettel, and Shop.com, an affiliate of Chinese online shopping giant Alibaba.
Nguyen Thi Bich Phuong, deputy CEO of VinSmart, said: “Myanmar is a market full of potential with fast growth in technology product consumption in recent years. We are confident that Vsmart will be among the top smartphone brands in the market.”
Myanmar is VinSmart’s second international market after it was launched in Spain last March. It plans to reach India, Thailand, Laos and Cambodia this year.
VinSmart last year acquired the intellectual property rights for its four first phones from Spanish technology firm BQ, in which VinSmart owns a 51 percent stake.
Its factory in the northern port city of Hai Phong is capable of making five million phones a year in its first phase of operations.
The company, established in June last year, introduced its first phones in December.