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Vietnam's FPT denies Apple buyout

Posted: 23 Jul 2014  Print Version  Bookmark and Share

Keywords:smartphone  FTP  Apple  iPhone  F.Studio 

Vietnam's leading ICT company FTP Corp. shot down rumours of a takeover by Apple, which Tech Insider said indicated the U.S. tech giant's efforts of growing its presence in the Southeast Asian market to get ahead of Samsung and bag the smartphone race lead, as VNN reported.

While FPT and Apple have forged a strong partnership, the two parties never discussed the said acquisition, Nguyen The Phuong, FPT deputy general director of Finance, told VNN.

The Tech Insider information was published a few days after Bloomberg ran a story that mentioned FPT's role in the tech giant's regional push as only a premium reseller of Apple in Vietnam.

FPT started reselling the range of Apple products in 2012. It created and opened F.Studio stores designed after the Apple outlets in developed countries, with the clean interiors and English-speaking store attendants trained by the smartphone giant.

This partnership proved to be a boon for Apple, which has since enjoyed consecutive quarters of strong revenue growth despite the struggle of premium smartphones to take off, according to IDC.

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Vietnam mobile phone shipments, Q12013 to Q12014. Source: IDC's Asia/Pacific Quarterly Mobile Phone Tracker

Daniel Pang, Senior Research Manager for Client Devices at IDC ASEAN commented: "Apple has proven to be very popular in Vietnam as Vietnamese consumers attach a high sense of prestige towards owning an iPhone. Despite the difficulties consumers face in being able to afford high-end phones in general, Apple continues to push new boundaries and the partnership with FPT has paid off."


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