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Apple to open subsidiary in Vietnam: newswire

Friday, August 21, 2015, 15:33 GMT+7

Apple Inc. is likely to officially set up its subsidiary in Ho Chi Minh City as the iPhone maker is reportedly scheduled to meet with the municipal administration on the establishment of the Vietnam business.

Tat Thanh Cang, deputy chairman of the Vietnamese metropolis, is slated to be briefed on “the report on the application for founding the Apple Vietnam Co. Ltd.” on August 19, tech website ICTNews reported on Monday, citing the working schedule of the city’s authorities.

The presence of that top official suggests that Apple Vietnam Co. Ltd. is “really a subsidiary of the Cupertino, California-based Apple Inc.,” rather than a certain firm having the same name as the U.S. tech titan, the Hanoi-based newswire said.

Apple is rumored to have its representative in Vietnam and to have worked with local dealerships since the beginning of this year, according to sources.

ICTNews said it had contacted the alleged Apple representative in Vietnam, but the man declined to comment.

“He gave us an email address that includes ‘@apple.com’ at the end, though,” the newswire said.

The owner of a hi-tech device store told ICTNews that the world's most profitable mobile phone maker “has been in Vietnam for nearly a year,” with hundreds of local employees.

“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 said.

The Vietnamese employees of Apple are reportedly working in District 7, Ho Chi Minh City, according to the source.

It is unclear whether these 100 people are full-time employees or those who work for Apple via contracts signed between the U.S. firm and a third party.

Yahoo Inc. once applied such an employment model to its operations in Vietnam, according to ICTNews.

“There were many Vietnamese employees working for Yahoo but only a few of them were full-time employees,” the newswire said, citing a local mobile phone chain manager.

Yahoo closed its Vietnamese office in Ho Chi Minh City in late 2014, after shutting down the Vietnamese-language news site Yahoo News.

Apple Inc. already has its Apple Premium Resellers in Vietnam, and is running its business in the country via its Thai unit, according to ICTNews.

The tech giant revealed last year that Vietnam was its hottest market after sales there tripled in the first half of its fiscal 2014.

Around seven million mobile phones were sold in Vietnam in the first quarter of this year, 44.5 percent of which were smartphones, according to IDC.

Samsung grabbed the largest part of the cake, 35.2 percent, whereas Apple came fourth with 10.4 percent.

However, Apple had the second-biggest value of sales, 24.4 percent compared to 35.6 percent of leader Samsung.

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