Vingroup JSC set up VinSmart Co for smartphones under Vsmart brand

Tinuku - Vingroup JSC made its first hit into the manufacturing and sales of smartphones aimed at success in Southeast Asian countries where smaller rivals have failed to dampen Samsung and Apple's popularity. Vietnam's largest conglomerate founded VinSmart Co. to produce smartphones in a short time.

Vingroup announced on Tuesday it had set up VinSmart Co. with registered capital starting at $ 131.54 million to produce smartphones and other smart electronic devices for sale under the Vsmart brand.

Tinuku Vingroup JSC set up VinSmart Co for smartphones under Vsmart brand

VinSmart will also conduct research on artificial intelligence and will build a production center in the port city of Haiphong. Vingroup says it has worked with advisers to acquire technology and production equipment for the new project.

Vietnam is a country of 93 million people has become the largest smartphone production base for Samsung Electronics. Vingroup also has operations in real estate, education, health, tourism and entertainment, retail, agriculture and car manufacturing.

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