Under the agreement, BQ will sell intellectual property rights to Vinsmart in order to develop two Vsmart brand name smartphone products for the high-end and mid-range markets.

This is an important step for VinSmart to soon launch Vietnamese-branded smartphones with future-oriented design and European-standard technology.

Nguyen Mai Hoa (L), General Director of VinSmart, and Alberto Méndez Peydró, President and General director of BQ 

In addition, VinSmart will exploit BQ’s strengths in almost all aspects of the value chain of producing smart electronics from design, research and development to production. VinSmart will also work closely with BQ on product research and development to apply the world’s most advanced technologies to the smart electronics manufacturing.

Currently, BQ is cooperating with many prestigious technology partners around the world such as Qualcomm, Google and Spanish universities to research and develop products and deploy production, thereby bringing the world’s modern technologies to Vsmart products.

Speaking at the signing ceremony, Vinsmart General Director Nguyen Mai Hoa said that VinSmart’s collaboration with leading European technology company BQ, just three weeks after announcing the launch of Vsmart smartphone production, demonstrates the determination of Vingroup in its efforts towards knowledge- and science-based production, contributing to the efficiency of Vietnam’s economy.

“We are working with the world’s leading companies, seeking out the best experts and completing the line of equipment to produce phones. Together with VinFast cars, Vsmart phones will contribute to the development of the Vietnamese industry and bring the Vietnamese brand to the world,” Hoa added.

In June 12, Vingroup announced the launch of VinSmart Joint Stock Company with a charter capital of VND 3 trillion (USD 131 million).

VinSmart will operate in two main areas: first, the production of smart electronics and second, researching, experimenting and applying artificial intelligence (AI), automation and new generation materials.

Vsmart’s production plant will be built in accordance with international standards at the VinFast automobile and electric motorbike manufacturing complex in Dinh Vu-Cat Hai industrial park in the northern port city of Hai Phong.

Source: VNA