Vingroup, Vietnam’s biggest private conglomerate announced on Sunday that it’s changing its focus and that the company stops the manufacturing of smartphones and televisions and instead put its focus on producing equipment for VinFast cars.
The company’s VinSmart unit, which was established in 2018 will switch from phones and will start making "infotainment" features for VinFast cars to make them more competitive in the global market.
In addition to “infotainment,” VinSmart will also research, design and manufacture electric engines, electronic parts and batteries for electric vehicles to increase the localization ratio of its products, and will also push research and development on devices for smart cities and smart homes.
Nguyen Viet Quang, vice president and CEO of Vingroup said that, "The production of smartphones or smart TVs no longer brings breakthroughs and creates unique values for users."
Nguyen said that developing smart cars, smart homes and smart cities will bring many "outstanding" benefits to humanity, therefore, the company wants to devote all its resources in this direction.
Since its establishment in June 2018, VinSmart has introduced 19 smartphone models and five TV models to the market and although the company will refocus its energies on new products, VinSmart will continue to produce TVs and smartphones to complete the products’ lifecycle.