VinSmart stopped producing TVs and mobile phones, and focused on developing VinFast

VinSmart stops producing TVs and mobile phones to focus on developing high technology for VinFast.
The information Vingroup said in a statement released on May 9. Thus, after 3 years of joining the smartphone market, Vingroup decided to stop investing in this potential but fierce competition.

“The production of smart phones or smart TVs has ceased to make a breakthrough and make a difference for users. Meanwhile, the development of smart cars, smart homes, smart cities bring to many outstanding benefits and experiences. Therefore, we are determined to put all resources into this spearhead “, Mr. Nguyen Viet Quang, Vice Chairman and General Director of Vingroup, said. Nearly 3 years in the smartphone market, reaping many successes, Vingroup decided to stop this segment to focus more on VinFast. However, VinSmart factories will continue to produce existing phones and TVs until the end of the product’s life cycle to supply the market. Part of the factory will then be used to outsource to partners, with the rest expanded to make new products. VinSmart will also maintain the warranty and customer care as committed with the products sold to the market. Vsmart phones sold to the market are still upgraded and updated with software. According to a representative of Vingroup, after stopping production of smartphones and TVs, VinSmart will focus on developing information – entertainment – service (Infotainment) features; research, design and manufacture of electronic components, battery cell systems, complete electric batteries, electric motors for VinFast cars. VinSmart will also retain research on smart cities, smart homes and IoT devices. VinSmart’s smart home solution appeared at a major urban exhibition late last year and has been operated in two major urban areas, Vinhomes Smart City and Vinhomes Ocean Park. VinSmart was born in June 2018, starting with the production of smartphones with the Vsmart brand. Nearly 3 years of development, Vsmart introduced to the market 19 phone models and 5 TV models.