collapse

Author Topic: Korea´s parasitic relationship w Vietnam ending: Vingroup fights Samsung  (Read 164 times)

0 Members and 1 Guest are viewing this topic.

Offline

  • Hero Member
  • *****
  • Posts: 11791
  • Karma: +34/-18
http://www.koreaherald.com/view.php?ud=20181219000518

in 2018
South Korea's exports to Vietnam rose 1.9 percent on-year to $44.5 billion over the period, while its imports soared 22 percent to $18.1 billion on strong demand for displays and electronics parts produced in Korean factories in Vietnam, the ministry said.

https://www.ft.com/content/d20245de-67ff-11e9-9adc-98bf1d35a056

but Vingroup is hoping to at least kick Samsung out of Vietnam´s domestic market.  Sure, Vietnam will be for the time being a place of manufacturing for S. Korea´s export to the world.  I am sure the Koreans see this coming but have invested so much in Vietnam already.  They can´t pull out now but they have to make the trade more balanced.  Vietnamese people get pennies for the amount of money they generate for the Koreans.  That is not as bad as all the "middle class" Viets buying Korean products that can easily be made in Vietnam like ramen and clothes.




   Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
   https://www.ft.com/content/d20245de-67ff-11e9-9adc-98bf1d35a056

   Vietnam’s richest man, Pham Nhat Vuong, is stepping up his efforts to grab a share of the domestic smartphone market from foreign rivals such as South Korea’s Samsung.

Vingroup, the conglomerate controlled by Mr Vuong, aims produce up to 5m handsets a year at its main production facility by 2021, a group executive told the Financial Times, underlining the company’s ambitions to reshape a smartphone market that it only entered last year.

Katherine Nguyen, who heads the company’s VinSmart unit, said its goal was to have its handset plant in Haiphong, northern Vietnam, operating at full capacity within two years, as a range of upgraded models attract consumers buying phones for the first time.

“The pie is huge, and the consumer desire and need is growing,” Ms Nguyen said in an interview. She said the company was also planning to build a second handset plant west of Hanoi in Hoa Lac, where VinSmart also plans to begin producing “smart” TVs in the third quarter of this year.

Vietnam’s communist government is rewriting regulations in areas such as autos and pharmaceuticals trying to promote local companies such as Vingroup after years in which its economy was dominated by foreign competitors like Samsung, which makes about half of its mobile phones in the country.

   Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
   https://www.ft.com/content/d20245de-67ff-11e9-9adc-98bf1d35a056

   However, analysts warned that the production target was a testing one at a time when global consumers’ enthusiasm for smartphones shows signs of waning, and in a country where Samsung and China’s Oppo control more than half of the market.

“If Vingroup wants to achieve the goal of 5m by 2021, they would have to do two things: build up their brand value, and beat Samsung and Oppo on marketing and branding,” said Rushabh Doshi, research director of Canalys, the mobile technology research group.

Vingroup, which is Vietnam’s largest private company, announced a launch into technology last year, opening an artificial intelligence and big data analysis division and unveiling four phone models under the Vsmart brand.

“The vision for now is not only to create a smartphone,” Ms Nguyen said. “We are looking at the whole ecosystem, to create a seamless, connected life [and] help people to connect with their loved ones, with different things in their lives.”


Vingroup launched its Vsmart phones in 2018 © Reuters
Vingroup would also need to “find a good synergy” with retail companies who play a dominant role in the domestic mobile phone market, Mr Doshi said. Vietnamese consumers bought about 15m phones last year, a number Canalys forecasts will reach nearly 17m in 2021.

Outside Vietnam, Vingroup is selling its Vsmart phones in Spain, where it has a majority stake in BQ, an electronics maker. Alongside plans to sell phones in Russia and Ukraine, the company will soon launch in Myanmar, where Vietnam’s dominant mobile provider Viettel launched the Mytel network last year.

Follow John Reed on Twitter: @JohnReedwrites

A previous version of this story incorrectly referred to Hoa Lac, site of Vingroup’s future mobile phone plant, as a province.



Offline

  • Hero Member
  • *****
  • Posts: 11791
  • Karma: +34/-18
I predicted this years ago.  As Vietnam and Korea economic interests diverge, those half Korean half Viet mestizos will bear the brunt of collateral damage.

Offline Selurong

  • Moderator
  • Hero Member
  • *****
  • Posts: 2376
  • Karma: +11/-2
  • Gender: Male
I predicted this years ago.  As Vietnam and Korea economic interests diverge, those half Korean half Viet mestizos will bear the brunt of collateral damage.
They'll have to pick a side, a hopefully, as the case with Mestizos in the Philippines, they'll choose the land they were born in, Vietnam.

Sent from my CHM-U01 using Tapatalk

The Romance Metropolis of the Far East
"The City of Manila"


 
Name: Email:
Verification:
What is love? (bird, flower, ephemeral of life, tattoo, idn):

* Recent Posts

Stocks & Trades by Olive Juice
[Yesterday at 07:01:50 PM]


Should fat girls be banned from wearing yoga pants? by
[Yesterday at 10:50:46 AM]


Philippines is world´s biggest buyer of rice...turned to VN for help by
[Yesterday at 10:44:37 AM]


Min singin vpop by
[Yesterday at 10:39:39 AM]


Lol Cambodia and Philippines are having a meme war now, much lulz. by
[Yesterday at 10:37:00 AM]


My grandfather wants to move graves of parents from Vietnam to Texas by
[Yesterday at 10:33:32 AM]


Did my tam use her nephew? by Guess
[July 02, 2020, 10:43:50 PM]


Butchered by Kyle york by Guess
[July 02, 2020, 10:41:45 PM]


Another pro vs homegrown by Guess
[July 02, 2020, 10:20:31 PM]


Which is better by Guess
[July 02, 2020, 10:12:45 PM]


What up with Vietnamese Vegan restaurants popping up everywhere? by Guess
[July 02, 2020, 07:19:46 PM]


Will your girlfriend wear this? by Guess
[July 02, 2020, 07:12:12 PM]


Irvine,CA China birth tourism gang leader busted by FBI by Guess
[July 02, 2020, 07:08:33 PM]


this genre has such a grasp on Vietnamese culture by Guess
[July 02, 2020, 07:05:50 PM]


Why some Viet people resist idea of a Vietnamese American president? by Guess
[July 02, 2020, 06:52:32 PM]


Thuý Huyền by gaden
[July 02, 2020, 06:36:02 PM]


Song Ca (duets) by gaden
[July 02, 2020, 06:33:00 PM]


Songwriter Tran Quang Loc just passed away in June 2020 by gaden
[July 02, 2020, 06:27:28 PM]


Drug prevention forces try to combat new drugs and crimes by convoy
[July 02, 2020, 04:09:39 PM]


HK Joshua Wong is a pusssy lol, abandons his stand + dissolves political party by
[July 02, 2020, 03:43:36 PM]


Do Filipinos ever develop racial camaraderie upon meeting Indonesians? by retired from trolling( mission accomplished)
[July 02, 2020, 03:20:09 PM]


Physical Actualization in the Jungle of Vietnam by
[July 02, 2020, 09:57:33 AM]


Tesla surpasses Toyota to be world´s most valuable auto maker by
[July 02, 2020, 08:51:37 AM]


Vietnam annoys Arabs by opening world´s first gold plated hotel in Hanoi by
[July 02, 2020, 08:43:53 AM]


Purchasing Power Map of Vietnam by Selurong
[July 02, 2020, 06:51:02 AM]


Domestic demand the driving force for agriculture to develop by convoy
[July 02, 2020, 04:30:52 AM]


VN strives to boost health insurance coverage by convoy
[July 01, 2020, 10:03:10 PM]


The Lý–Song War by X
[July 01, 2020, 08:41:29 PM]


Now I see why Vietnam´s LGBT feel oppressed by
[July 01, 2020, 07:46:30 PM]


I am in love with this Thailaobodian citizen by
[July 01, 2020, 07:37:15 PM]

* News Feeds