HO CHI MINH CITY -- Vietnamese smartphone maker VinSmart is entering the European market in a bold bid to become the country's first globally recognized smartphone brand. But while the company is hopeful it can follow in the footsteps of Chinese makers that have cracked Western markets, snatching market share from the likes of Apple and Samsung will not be easy.
Four models made by VinSmart, a subsidiary of property conglomerate Vingroup, hit stores in Spain in March, just three months after the phones went on sale in Vietnam.
Investors are keenly watching the move, which is part of Vingroup's ambitions to become a global technology brand. Other plans include setting up research centers around the globe, including in the U.S.