Recently, in a surprising move, Vingroup has officially announced that it will cease research and production of TVs and mobile phones to focus entirely on VinFast. This means that users will no longer witness the launch of any smartphone or TV models bearing the Vsmart brand.
The decision to terminate the smartphone and TV segments of Vingroup is aimed at fully directing resources towards VinFast. Specifically, VinSmart will shift to developing smart features for transportation and housing, including the infotainment system in VinFast vehicles. Additionally, Vingroup will also focus on researching, designing, and manufacturing electronic components, battery cells, complete electric battery systems, and various types of electric motors, to increase localization rates and ensure high-quality supply for VinFast.
“The production of smartphones or smart TVs no longer provides breakthrough capabilities or creates distinctive value for users. Meanwhile, developing particularly smart cars, smart homes, and even creating smart cities… will bring numerous benefits and superior experiences for humanity. Therefore, we are determined to concentrate all resources on this spearhead,” said Nguyen Viet Quang, Vice Chairman and CEO of Vingroup.
Users will no longer see new Vsmart smartphone models.
In addition to VinFast, another area Vingroup is focusing on is Smart City, Smart Home, and IoT devices.
Although no new models will be researched and produced, existing phone and TV models will continue to be manufactured until the end of their life cycle to supply the market. After that, part of the factory will be used for processing for partners, while the remaining part will be expanded and adjusted to produce new products.
According to VinSmart, current phone and TV products will continue to be guaranteed by VinSmart “until the day customers no longer use the products.” In addition, VinSmart will have a specialized team tasked with upgrading and updating software for the Vsmart phones already sold in the market.