VinSmart company (belonging to Vingroup) has just announced the launch of Vsmart brand and product in Myanmar. This is the second foreign market of VinSmart after Spain.
According to VinSmart, the partner of Vsmart distribution in Myanmar is Strong Source, the No.1 multidisciplinary consumer and electronics retailer in this country. Vsmart phones will be distributed through nearly 1,500 Strong Source stores. Besides, Vsmart also cooperates with 2 major retailers (direct and online distribution) in Myanmar, Mytel (Viettel) and Shop.com.mm (Alibaba).
Vsmart phones are available in retail stores in Myanmar
In the first phase, Vsmart will distribute 4 smart phones in Myanmar market including Joy1, Joy1 +, Active 1 and Active 1+. These are 4 products currently being sold by VinSmart in Vietnam as well as in Spain.
Myanmar is a potential smartphone market with a strong growth rate. However, this is also a market with strong competition with the participation of all major smartphone brands such as Samsung, Apple and Chinese companies such as Xiaomi, Huawei, Oppo.
According to statcounter research firm, Xiaomi is currently the No. 1 market share in Myanmar with nearly 30% market share of smartphones, followed by Huawei (16.2%), Samsung (15.5%), Oppo ( 8.7%) and Apple (6.8%) as of the end of April 2019.
However, VinSmart believes that it will gain a significant market share in Myanmar market thanks to products with competitive prices and the support of large distribution partners such as Strong Source, Mytel network and electric trading channel. Shop.com.mm.
After Myanmar and Spain, VinSmart announced that it will continue to be present in markets in India, Thailand, Laos and Cambodia in 2019.
VinSmart currently has a smartphone factory in Hai Phong. Recently, the company said it will open a second factory in Hoa Lac to produce smartphones along with other technology products such as TVs, refrigerators …