The Vsmart phones will be made at a factory in Vietnam’s capital, Hanoi, and will be sold in the EU and European markets from April 2020.
On Friday, Vietnam’s biggest-listed firm by market value, Vingroup JSC stated it had signed a deal with Qualcomm and with a unit of Japan’s Fujitsu Ltd, to produce 5G smartphones in the country.
The Vsmart phones will be manufactured at its factory in Hanoi and will be sold in the U.S. as well as in European markets from April 2020, said Vingroup in a statement.
Earlier this month, Vingroup JSC had stated, construction of the factory that can produce 125 million smartphones a year, had commenced.
In December 2018, Vingroup JSC had launched the Vsmart brand as a way to gain market share from popular brands such as Apple and Samsung in Vietnam.
In March 2019, it began selling Vsmart phones in Spain; it plans on expanding the sales to other European markets in the near future.
In May 2019, the company began selling its phones in neighboring Myanmar.