Apple, Inc. Plans to Open Subsidiary in Vietnam

Apple seems to have set its sights on the Vietnamese market with reports that the company is gearing up to open a subsidiary in Vietnam.

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According to Tuoi Tre, citing ICT News, Tat Thanh Cang, deputy chairman of Saigon, was briefed on “the report on the application for founding the Apple Vietnam Co. Ltd” yesterday. Given the presence of a top official, the new company is “really a subsidiary of the Cupertino, California-based Apple Inc.,” rather than a separate business looking to capitalize on the brand.

Apple has reportedly laid the groundwork for its Vietnam operations by hiring hundreds of employees in District 7. ICT News reached out to one such representative who declined to comment but replied with a “@apple.com” email address.

“The establishment of a firm like Apple Vietnam Co. Ltd. is thus only a move to regularize their operations in the country,” an anonymous source told the tech website.

It's unclear if such a move would be a precursor to the launch of Apple retail stores in Vietnam.

Regardless, it is no surprise that Apple Inc. is interested in expanding their Vietnamese operations. In the first half of 2014, sales of Apple products in Vietnam tripled, making it the company’s hottest market. 

Despite the increase in Apple sales, Samsung currently dominates the Vietnamese smartphone market with a 29.4% market share versus Apple’s 10.6%. 

[Photo via Daniel Hoherd]