Apple Vietnam Limited Liability opens up to serve fast-growing market
Vietnam has been a hotbed for Windows Phone with some major hardware partners putting up decent phones. But there’s room to grow in the country — it’s growing faster than a lot of other Asian markets. The mobile subscription growth rate was marked at 26 percent between 2009 and 2013, while Vietnam’s internet penetration landed above one-third of the population in 2014. It’s a picture unlike China and something Apple wants to get into, bad.
How bad? The company has just set up a subsidiary based in Ho Chi Minh City with capital of more than $670,000. It will be headquarters for boots-on-the-ground wholesale work for Apple’s products with IT, maintenance and advisory support services.
While Samsung’s had a manufacturing presence in the communist nation, Apple’s tripled its sales year-over-year up to fiscal 1H of 2015.
Jules Wang contributed to this story.