Apple has opened a subsidiary company in Vietnam, allowing the maker of iPhones to import and distribute cellphones directly.
Apple Vietnam Limited Liability was established on Oct. 28 with a registered capital of 15 billion dong ($672,194), according to a news announcement recorded on Vietnam's national business registry website spotted by Reuters. The Ho Chi Minh City-based firm will conduct wholesale businesses of various products including its signature smartphones, provide information technology and maintenance services as well as advising services, the announcement said.
Communist Vietnam was Apple’s hottest market after sales there tripled in its fiscal first half of last year, a growth rate five times faster than in India, notes Reuters. CNET says that nearly every block in Hanoi has a store hawking the iPhone or at least using the Apple logo to draw in customers. And people in Vietnam wear the Apple logo on everything, from motorbike helmets to hoodies.
The photo is courtesy of CNET.