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Apple's resilient iPhone sales and Samsung's dominance amidst declining market According to Counterpoint Research, the smartphone market has been impacted by the recent economic difficulties. The report indicates that amidst challenging business conditions, retailers have had to revise their expansion plans and reassess their business strategies. Retail stores have reduced operating hours and lowered salaries due to the reduction in customers since the Lunar New Year. Initially, original equipment manufacturers misjudged the demand, resulting in high inventory levels. Subsequently, realising the actual situation, they rushed to offer discounts to clear the excess stock. All phone manufacturers, except for Apple, experienced a decline in sales in Q1. Glen Cardoza, a senior analyst at Counterpoint Research stated, "The recovery of smartphone demand in Vietnam is expected to be slow in the second quarter of 2023 and will require time while the economy continues to face numerous … [Read more...] about Apple’s resilient iPhone sales and Samsung’s dominance amidst declining market

The Central Highlands province of Dak Nong has recently discovered numerous artefacts belonging to inhabitants dating back 3,500 years. According to the provincial Department of Culture, Sports, and Tourism, the artefacts were discovered during an excavation jointly conducted by the Dak Nong Museum and the Vietnam Institute of Archaeology in Village 12, Dak Sin Commune, Dak R’lap District early this month. Part of the artefacts found in Dak Nong (photo by My Hang) The objects include stone items such as axes, blade fragments, grinding tables, chisels and saws and around 6,300 pieces of pottery with a thickness of 0.5-0.8 cm. All of the artefacts obtained from the excavation process will be handed over to be stored at the Dak Nong Provincial Museum. The authorities of Dak Sin Commune have been urged to raise local awareness about the need to protect archaeological sites. … [Read more...] about Bronze age artefacts found in Dak Nong

An overview of the NA's fifth session. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) deputies will continue their ongoing fifth session on May 30 discussing important matters, including a draft Law on Electronic Transactions (revised) and a draft resolution on pilot special policies for the development of Ho Chi Minh City. The draft Law on Electronic Transactions (revised) has seven chapters and 54 articles. Compared to the current version, the bill has 31 new and nine amended articles, while erasing a number of regulations in five and eliminating three articles. During the morning discussion, NA deputies will decide the investment policy for the project to construct road from National Highway 27C to Road 656 in Khanh Hoa province which links to Lam Dong and Ninh Thuan provinces, as well as the adjustment of the investment policy for Ka Pet reservoir in Ham Thuan Nam district of Binh Thuan province. In the afternoon, they are scheduled to listen to a proposal and a … [Read more...] about NA deputies continue to discuss draft laws, resolutions on May 30

Vietnamese e-wallet MoMo has partnered with Apple to introduce Apple Installments, which allows users to own Apple products through flexible payment plans ranging 6-24 months. The US tech giant launched an online store in Vietnam in May. Optimism rises for fintech development opportunities, illustration photo/ Le Toan Do Quang Thuan, senior deputy director in charge of financial services at MoMo, said, “As we seamlessly integrate into the online Apple Store, we present Vietnamese users with an unparalleled range of payment options. It’s a gateway to unlocking their dreams of Apple ownership while maintaining a firm grip on their financial equilibrium.” The landscape has become increasingly competitive in Vietnam, driving innovation and advancements in digital payment solutions. Breaking new ground in the Vietnamese market, MoMo is also the first local partner to offer cashless payment options for YouTube Premium. The strategic collaboration brings added convenience … [Read more...] about Optimism rises for fintech development opportunities

To prepare for the organisation of the 2024 Asian futsal qualifiers, the Asian Football Confederation (AFC) has conducted seed grouping as well as announced the draw rules for the 31 participating teams, including Vietnam. Vietnam is placed in the seed No.1 group in the 2024 Asian futsal qualifying round. Illustrative image (Photo: VNA) The seeding is based on the performance of the teams at the 2022 Asian futsal tournament. Teams not participating in this tournament are ranked in the lowest group. Accordingly, Vietnam is placed in the seed No.1 group, together with Japan, Iran, Uzbekistan, Thailand, Tajikistan, Indonesia and Kuwait. Group 2 comprises Saudi Arabia, Iraq, Bahrain, Chinese Taipei, Turkmenistan, Lebanon, the Republic of Korea, and Myanmar. Group 3 gathers Afghanistan, Kyrgyzstan, Malaysia, Australia, Palestine, Hong Kong (China), Timor-Leste. Meanwhile, Group 4 includes Cambodia, Maldives, Mongolia, Brunei, China, India, and Macau (China). … [Read more...] about Vietnam’s futsal team looks good heading into Asian qualifiers

Market Management Department staff check goods in the northern province of Vinh Phuc. — VNA/VNS Photo Consumers and businesses are called on to join authorities in the fight against counterfeit, fake, and smuggled goods on online shopping platforms. The issue has been receiving more attention due to the booming popularity of e-commerce in Viet Nam. Statistics from the Viet Nam E-commerce Association (VECOM) show that in 2021, Viet Nam’s retail e-commerce market size reached US$13.5-13.7 billion. In 2022, the figure increased to $16.4 billion and is forecast to reach about $38 - 39 billion by 2025. According to experts, the buying trend of consumers has changed rapidly in the past three years due to the COVID-19 pandemic, from consumer goods, food, drinks, fashion, and cosmetics. However, according to preliminary statistics from the Ministry of Industry and Trade (MoIT), authorities receive about 1,500 complaints via hotlines and written documents related to online shopping … [Read more...] about Consumers, businesses urged to join fight against counterfeit goods online

A Vietcombank employee talks to a customer at its office. The bank's shares surged by 1.5 per cent yesterday, lifting the VN-Index. — Photo courtesy of Vietcombank The Vietnamese stock market inched higher on Tuesday, extending its rally for the second day in a row. However, gains were capped by strong net selling activities by foreign investors. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 3.07 points, or 0.29 per cent, to close the day at 1,078.05 points. It climbed more than 11.2 points, the biggest intraday gain in two weeks, on Monday thanks to the investor's improving risk appetite. Tuesday's rally helped push the index closer to the resistance level of 1,080 points, and may further test the zone of 1,085 - 1,090 points, according to ASEAN Securities Company. Similarly, analysts from Yuanta Securities (Vietnam) Company said that the benchmark was likely to retest the resistance zone of 1,080 - 1,085 points, and the market would continue its … [Read more...] about Market extends gain on positive sentiment