With retail prices of VND4.99 million (US$220) for Asanzo Z5 and VND2.99 million (US$132) for Asanzo S5, the company targets middle-income customers.
Pham Van Tam, CEO of Asanzo Vietnam, said Asanzo Z5 and Asanzo S5 are assembled at the company’s factory in HCMC and will be available on the shelves of Asanzo’s 6,000 stores and vendors nationwide from September 1.
With this debut, Asanzo has become one of three Vietnamese smartphone brands on the local market, along with Mobiistar and Bkav.
Other domestic brands, including Q-Mobile and HKPhone, have withdrawn due to harsh competition with numerous foreign smartphone producers such as Apple, Samsung, Sony and Oppo.
Although Asanzo is a new face in the smartphone market, the brand has been known for cheap TVs and household appliances. In 2016, the company sold over 500,000 TVs, holding a market share of 15%.
Founded in 2013, Asanzo Vietnam reported revenue of VND1.2 trillion (US$52.8 million) in 2015 and VND2.5 trillion in 2016. The company expects VND4 trillion in revenue this year.
In addition to the existing US$20-million factory, Asanzo is constructing a new factory on 17,000 square meters in Cu Chi District.