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/ March 9, 2021

iPhone 12 users in Vietnam can now use 5G services

iPhone 12 users now can experience the features that 5G can offer. According to Viettel, one of the three largest mobile networks in Vietnam, on March 6 iPhone 12 became compatible with 5G. Prior to that, iPhone 12 could not access 5G when using two sims (physical and eSIM). However, the problem has been fixed. The iPhone models compatible with Viettel’s 5G include iPhone 12 mini, iPhone 12, iPhone 12 Pro and iPhone 12 Pro Max. To use 5G, iPhone users in Vietnam need to install iOS 14.5 Beta operating system. They also need to be subscribers to be selected at random by the mobile network operator. In a recent move, Apple said it will soon open a commercial version on iPhone to Viettel 5G. As such, iPhone 12 is the latest smartphone model that can use 5G in Vietnam, after Xiaomi Mi 11, Oppo Reno 5G and Samsung Galaxy S21. Users can use 5G on Samsung Note 20 Ultra and Galaxy Z Fold 2, Oppo Find X2 and Find X2 Pro, Xiaomi Mi 10T Pro and Poco F2 pro, Realme X50 pro 5G, ZTE Axon 10 pro, Huawei P40 and P40 pro 5G, and Nokia: 8.3 5G. Users don’t need to change the SIM to be able to use 5G services. Mobile network operators are running data support programs so Vietnamese users can experience 5G services, free of charge. To date, 5G is available in many cities and provinces throughout the country, including Hanoi, HCM City, Binh Phuoc, Thu Duc, Bac Giang and Bac Ninh. Users just need to have compatible phones to connect 5G. In Hanoi, experiments in December 2020 found that the 5G speed is 10-20 times higher than ordinary mobile internet access speed. VietNamNet’s reporters measured 5G VinaPhone speed at three locations, including the showroom for experience on Dinh Tien Hoang street, Ly Thai To Monument and Ngoc Son Temple area. At the showroom, the 5G download speed was up to 1.3 Gbps. Meanwhile, at other locations, the speed was 300-600 Mbps. At this speed, it took users 20 seconds to download an app with the capacity of 600 MB. According …

/ March 18, 2020

Covid pandemic boosts online shopping in Vietnam

The Hanoitimes - The demand on online shopping in Vietnam is increasing, bringing positive results to e-commerce platforms in Vietnam. Even though the first months of every year is the low season for shopping, e-commerce sites in Vietnam have seen a surge in orders in the January-March 2020 period as the Covid-19 pandemic changes consumers' behavior. Tiki, the leading e-commerce platform in terms of web traffic, reported 15% growth in shopping demand since the beginning of February compared to the last two months of 2019. According to the Vietnamese e-commerce platform, its orders reached 3,000-4,000 every minute in the fourth quarter of 2019, the time of the e-shopping festival. “This shows the significant increase in the shopping needs of Tiki consumers since the Covid-19 outbreak,” Vice President of Corporate Development Ngo Hoang Gia Khanh told Hanoitimes . Owning 593 physical stores, a representative of FPT Digital Retail JSC (FRT) told Hanoitimes that the firm recorded an increase of 8% in its web traffic from the beginning of the year compared to the comparable period of 2019. Its revenue from online trade increased an inter-annual 5% in the first two months. According to representatives from Tiki and FPT, the hottest items in the first months of the year on digital platforms are face masks, wet towels and air purifiers. For Lazada, the best selling goods are personal care and home appliances. In February, the demand for room deodorizers and disinfectant sprays jumped by more than 160%, diapers and paper grew by 60%, and packaged products soared by more than 50% inter-monthly. Sources: iPrice Group & App Annie Data analysis of consumer needs through search and traffic activities conducted by iPrice Group and SimilarWeb shows that the demand for fast-moving-consumer goods (FMCG) and health categories grew positively in the first two months. The search for face masks increased by 60 times and 100 times for …

/ May 31, 2020

Fintech is emerging as a driver of innovative financial solutions during Covid-19

The Hanoitimes - Fintech – the fusion of finance and technology – could be a game-changer for inclusive economic growth amidst the pandemic. Financial technology (fintech), or the fusion of finance and technology, has emerged as a new model for financial innovation. Fintech covers a constellation of complementary technologies—including mobile networks, big data, cloud computing, distributed ledger technology, artificial intelligence (AI), and data analytics—that jointly shape a broad swathe of operations in the financial industry. In India, mobile phones are being used to create “human ATMs” that provide greater access to fintech services. Photo: Ravi Sharma The past few years have witnessed the rapid growth of investment in fintech. It has already left its imprint on a wide array of financial services, including microfinance, blockchain, payments, personal finance, digital banking, insurance, wealth management, capital markets, money transfers, and mortgages. The role of fintech in improving financial inclusion comes to the fore during big economic shocks such as the Covid-19 pandemic. The poor suffer disproportionately during such shocks. Their hardship is exacerbated by lack of access to financial services, and they often do not have online bank accounts. Authors: Donghyun Park is Principal Economist, Economic Research and Regional Cooperation Department, ADB. Shu Tian is Economist, Economic Research and Regional Cooperation Department, ADB. …