VinSmart withdraws from smartphone and television market

May 11, 2021 | 10:40
VinSmart of Vingroup officially stopped researching and manufacturing televisions and smartphones to focus resources on developing electronic products and infotainment systems for VinFast cars.
vinsmart withdraws from smartphone and television market
According to data from GfK at the end of 2020, Vsmart had the third largest market share in the Vietnamese smartphone segment, following Samsung and Oppo

VinSmart announced that it will no longer develop TVs and smartphones for the Vietnamese market and switch to developing smart features in cars and homes.

Specifically, VinSmart will focus its resources on developing electronic products and features of information, entertainment, and services for VinFast cars. With nearly 150 features of infotainment, VinFast cars would create its competitive advantage in the global auto market due to differentiated utilities.

Nguyen Viet Quang, vice president and general director of Vingroup, said that the production of smartphones and TVs no longer brings breakthroughs to generate differentiated value for users. Meanwhile, the development of smart cars, smart homes and smart cities will bring more benefits and experiences for domestic users.

Before focusing on new targets, VinSmart factories continue to produce phones and TVs for the rest of the product's life cycle. After that, part of the factory will be used to process for partners, the rest is expanded to adjust to new-oriented production.

The company maintains warranty, repair, and customer care for people who bought its smartphones and TVs until no one else uses the company's products. At the same time, a part of the phone software design department continues to research to upgrade and update Vsmart phones sold on the market.

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