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Foreign phone giants land in Vietnam

Foreign phone giants land in Vietnam

HO CHI MINH CITY: Major mobile phone producers in the world have just landed or are going to land in Vietnam, local media reported Saturday.

Three models of Meizu, including M2 Note, MX5 and M2, were officially distributed in Vietnam in November 2015, marking an important step of this Chinese phone firm in conquering the Vietnamese market, online newspaper Infonet under the Vietnamese Ministry of Information and Communications reported.

The three models have powerful configurations and comparative prices, Infonet said, adding that they are now distributed by a Vietnamese firm named PHTD – member of the PetroVietnam General Services Joint Stock Corp.

Established in 2003 and expanding into the smartphone market in 2008, Meizu has focused on developing innovative and user- friendly smartphones for consumers. With more than 1,000 employees and 600 retail stores, it has built a global presence in China’s Hong Kong, Israel, Russia and Ukraine.

According to the website of the Vietnamese General Department of Taxation, the Apple Vietnam LLC received business license from Vietnam’s Ho Chi Minh City in October 2015. Based in the city’s District 1, Apple Vietnam’s representative is Gene Daniel Levoff – vice president of corporate law at Apple Inc. Apple Inc. has allowed big Vietnamese hi-tech product retailers, including FPT Shop and The Gioi Di Dong, to directly import iPhones to sell them in the local market.

South Korean mobile phone producer Pantech is expected to join hands with its global strategic partner VIG and a Vietnamese company to officially distribute its products in Vietnam from March, Infonet reported. By the end of 2015, Vietnam had had 127 million mobile phone subscribers, down 7.3 percent against 2014, announced the country’s General Statistics Office.

Vietnam made telecommunications revenues of 335 trillion Vietnamese dong (nearly 14.9 billion U.S. dollars) last year, up 2.1 percent, including profits of some 56 trillion Vietnamese dong (roughly 2.5 billion U.S. dollars), the office said.