Vingroup makes quick exit out of smartphones in shift to EVs

Vietnamese conglomerate will also halt TV production

20210510 Vingroup plant

A Vingroup factory in Hanoi: The Vietnamese conglomerate entered the smartphone business in 2018. (Photo by Tomoya Onishi)

TOMOYA ONISHI, Nikkei staff writer

HANOI -- Top Vietnamese conglomerate Vingroup will end development and production of smartphones and televisions amid lackluster sales and few prospects for growth.

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