Vertical Divider
VinSmart to Exit Smartphone Market
Vietnamese VinSmart once considered a potential buyer of LGE phone business decided to quit the production of mobile devices. The manufacturer admitted that it will not succeed in the field of mobile phones; and intends to focus on the development of other areas. The president and CEO of Vingroup, which included the VinSmart division; said smartphone and smart TV manufacturing no longer brings breakthroughs and unique value to users. The company will now prioritize the creation of smart cars, homes and cities. This is what the future holds, and here Vingroup wants to make a breakthrough.
VinSmart started producing Smart smartphones in June 2018 and in less than three years brought 19 device models to the market, and the number of countries where they were officially sold included the United States. Interestingly, in its homeland in Vietnam, the company’s share exceeded 10% and it was the fourth most popular, behind only Samsung, Oppo and Vivo.
Smart has become another manufacturer that could not hold out for a long time in the realities of tough competition in the smartphone market. The company did not climb into the premium segment, and the demand for its products was kept by users who had a minimum purchase budget. The company apparently does not have the strength and resources to create premium smartphones.
Vietnamese VinSmart once considered a potential buyer of LGE phone business decided to quit the production of mobile devices. The manufacturer admitted that it will not succeed in the field of mobile phones; and intends to focus on the development of other areas. The president and CEO of Vingroup, which included the VinSmart division; said smartphone and smart TV manufacturing no longer brings breakthroughs and unique value to users. The company will now prioritize the creation of smart cars, homes and cities. This is what the future holds, and here Vingroup wants to make a breakthrough.
VinSmart started producing Smart smartphones in June 2018 and in less than three years brought 19 device models to the market, and the number of countries where they were officially sold included the United States. Interestingly, in its homeland in Vietnam, the company’s share exceeded 10% and it was the fourth most popular, behind only Samsung, Oppo and Vivo.
Smart has become another manufacturer that could not hold out for a long time in the realities of tough competition in the smartphone market. The company did not climb into the premium segment, and the demand for its products was kept by users who had a minimum purchase budget. The company apparently does not have the strength and resources to create premium smartphones.
|
Contact Us
|
Barry Young
|