FPT Retail Co., a subsidiary of the big information technology firm FPT, launched on Tuesday four shops retailing cell phones and laptops in HCMC and Hanoi, marking its first business activity since establishment early this year.
Le Quang Vu, managing director of FPT Retail, said at the opening ceremony that "the new retail shop chain marks FPT Retail's debut in Vietnam mobile retail market and offers more choices for customers."
He said that after opening the four retail shops in Hanoi and HCMC, the company would continue to open more stores in Can Tho, Hai Phong, Thanh Hoa, Vinh and Da Nang in the coming months as part of a more ambitious expansion plan.
"FPT Retail plans to increase our chain to 100 shops nationwide in the next two years and expects to obtain US$400mil of annual revenue," he added.
Under the FPT Retail shop standard, all the FPT retail shops with the trademark [IN] should cover no less than 300 square meters and has the uniform design model in blue color.
The center mainly distributes products of popular mobile phone and notebook manufacturers such as Nokia, Samsung, Motorola, Lenovo, HP, Toshiba and NEC.
On the occasion of the opening, the company also launched its promotion campaign to offer many gifts worth over VND2bil for clients.
Industry insiders said that with the debut of FPT Retail, Vietnam's mobile and notebook distributing market would see fiercer competition.
The Mobile World Joint Stock Company also launched on Tuesday its new promotion campaign to celebrate its third establishment, offering lucky clients mobile phones manufactured by Nokia, Samsung, and Sony Ericson.
The Mobile World is now the leading company in Vietnam's cell phone segment, holding a market share of over 20% in HCMC. After receiving Mekong Enterprise Fund II investment of US$4.5mil, the company plans to open about 20 more retail shops nationwide.
With the Mobile World's business expansion, the military-run telco Viettel also said that the company has plans to participate in the local mobile phone distribution market.
The company has taken over 15 retail shops of Netra Trading and Investment International Co. Ltd., who lost its foothold in Vietnam in June due to poor business return.
The market survey company GfK Asia Pte. Ltd. (Vietnam) estimated the market growth rate this year for mobile phones at between 40% and 60%.
Source: VNE
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