Apple opens subsidiary in Vietnam: media

Thanh Nien News

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 A file photo of iPhones
Apple the technology giant has reportedly opened its subsidiary in Ho Chi Minh City, soon after expanding its retail network in one of the world's fastest growing mobile markets.
Apple Vietnam LLC was established at the end of October by Apple's Irish subsidiary Apple Operations International, with a capital of VND15 billion, or more than US$667,000, local media reported on Thursday.
It was licensed to export, import and distribute Apple products and services, according to the reports.
Gene Daniel Levoff, vice president of Apple Operations International, is the company's legal representative.
In late August, Apple added another two authorized resellers in Vietnam, where subsidiaries of information technology group FPT and telecommunication giants Viettel and Viettel have already held rights to either retail or distribute its products.
Vietnam's huge interest in Apple products grabbed international headlines in April, when the giant released its financial report for the first half of the year, naming the country its fastest growing market.
Apple's sales in Vietnam tripled, or five times faster than its sales growth in India, while iPhone sales in the country doubled quarterly.
With smartphone sales of all brands surging 27 percent in the first six months to 6 million units, Vietnam is now one of the fastest-growing markets in Southeast Asia, according to the latest report by German market research company GfK. 
Another smartphone giant, Samsung, has opened production facilities in the country.

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