Apple has a plan to open its first online store in Vietnam, as the iPhone maker is seeking growth from the younger, mobile-first population.
The tech giant announced that it will launch its first online store in Vietnam on May 18 in a bid to meet the growing demand from Vietnam's young and tech-savvy population, as well as its quickly expanding digital economy.
Apple will offer its full line of products and customer support in the Vietnamese language, and has also launched a Vietnamese website.
Deirdre O'Brien, Apple's senior vice president of retail said, "We're honoured to be expanding in Vietnam and extremely excited to be able to provide Apple’s superior care and support to customers with the launch of the online Apple Store."
"With our online store, customers in Vietnam can now explore our wide range of amazing products and services, connect with experienced professionals, and experience the best of Apple like never before," O'Brien continued.
The expansion into Vietnam is part of Apple’s broader business strategy. Due to lower demand and sales in China, Apple has shifted its focus towards emerging markets like India, Brazil, and Malaysia to boost sales.
In Apple’s most recent earnings call on May 4, CEO Tim Cook noted, "We had a stellar quarter in emerging markets overall. We’re putting our efforts into a number of these markets and really see a great opportunity, particularly given our low share and the dynamics of the demographics."
Apple has not only tapped into the domestic market, but has also been adding production lines to their supply chain diversions in Vietnam. Foxconn, a major supplier of iPhones to Apple, is investing $300 million to increase production in the country. Meanwhile, Quanta Computer, which specialises in assembling MacBooks for Apple, will build a factory in an industrial park in Nam Dinh province.
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Vietnam has witnessed an increasing wave of foreign companies shifting production to the country in the past year, and growth in the area is expected to continue.