Shares fell for a second day on Wednesday on the Hồ Chí Minh Stock Exchange with heavyweights like Vingroup’s stocks and banks behind this fall.
Before the latest withdrawal of Vinsmart, Japanese giants like Panasonic, Toshiba, and Sharp also dropped out of the Vietnamese television market.
VinGroup is to halt the production of TVs and smartphones to focus on the development of its Internet-of-things and Infotainment for VinFast cars, according to a press release by the country's largest conglomerate yesterday.
On March 26, VinSmart Research & Manufacturer Joint Stock Company (a member of Vingroup) will officially launch its Vsmart Star 5 smartphone.
Many phone models manufactured by VinSmart are currently sold in the US, according to recent data provided by AT&T on new models sold in the US. Bloomberg (USA) and Nikkei (Japan) published articles last October revealing that VinSmart had received a contract order from the leading US network operator - AT&T for two million smartphones.
Vingroup, officially launched four models of Air Purifier and Smart Home Solution products. These are the latest product lines of the Vsmart technology ecosystem for families. Products are opened for exclusive sale on Vsmart Online e-commerce website (https://shop.vsmart.net) with many attractive incentives.