The mobile telephony sector shows a new decline, this time with a certain nostalgia: VinGroup, the Vietnamese multinational that acquired the Spanish brand BQ, closes its mobile division by surprise, also the television division. VinGroup will be mainly dedicated to the electric car.
Raising a telephony brand from scratch is not an easy task, brands like BQ know it well. To sell Chinese mobiles under his name, the company went on to develop its own phones; thereby acquiring great popularity in Spain. After the official landing of Chinese brands such as Xiaomi BQ, there was a clear setback; until it had to play its definitive card: VinGroup, the Vietnamese multinational, acquired a stake in the Spanish until obtaining control. Now the story ends abruptly.
VinGroup closes its mobile division to focus on electric vehicles
After acquiring the majority of shares in BQ VinGroup tried to gain a foothold in the Spanish market presenting the first phones under its brand, back in 2019. The Vsmart Active 1+ was the main exponent of that new stage; with the Vsmart Aris and Aris Pro that arrived at the end of 2020. Not that this brand would garner much popularity, but we did not expect VinGroup to ditch its mobile and television division so suddenly.
As confirmed by Vsmart itself in its native country, Vietnam, VinGroup has decided to close down the electronics division, ending the manufacture and distribution of new smartphones. This applies to the whole world, Spain included.
Vsmart will continue to provide support and guarantees, at least in the country of origin (it should also do so in the rest of the territories where it has distributed its products). VinGroup's manufacturing lines will continue to assemble components Until the end of the useful life of current products. Once this useful life is over, the factories will divide their processes between the multinational's electric cars, which will be distributed under the VinFast brand, and the manufacture of products for other companies.
As stated Nguyen viet quang, Vice President and CEO of VinGroup:
"The production of smartphones or televisions does not represent a breakthrough or make a difference for users. Meanwhile, the development of smart cars, smart home and smart city offer many exceptional benefits and experiences. That is why we are determined to dedicate all resources at these points. "
Despite the fact that BQ had disappeared as a brand, Vsmart's mobiles still remained as a witness to the former Spanish company. Now we really have to say goodbye forever.
Via | Bloomberg