Apple continues emerging market push, announces first online store in Vietnam
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Apple (NASDAQ:AAPL) said on Friday it is opening its first online store in Vietnam, just days after the tech giant demonstrated the strength of its push into emerging markets.
The online store will open for sale of its products, such as iPhones, iPads and Macs, on May 18, and will give customers support in Vietnamese and in English.
"We are honored to have the opportunity to expand in Vietnam, and extremely excited to be able to provide Apple's superior care and support to customers with the launch of the online Apple Store," said Deirdre O'Brien, Apple's Senior Vice President of Retail, in a statement. "With our online store, customers in Vietnam can now explore our wide range of amazing products and services, connect with experienced professionals, and experience the best of Apple like never before."
Apple (AAPL) shares were little changed in pre-market trading on Friday.
The move to open an online store, which historically has been the precedent to opening a retail store, comes after Apple (AAPL) said on its fiscal second-quarter earnings call that it set new records in several emerging markets, including Mexico and India.
Apple (AAPL) recently opened its first two physical stores in India, in Mumbai and Delhi.
Vietnam, home to some 100M people, has also become an important manufacturing hub for Cupertino, California-based Apple (AAPL).
In February, Foxconn, also known as Hon Hai Precision (OTCPK:HNHPF), reportedly sealed a deal to increase its manufacturing operations in Vietnam. Late last year, it was reported that Apple (AAPL) had asked Foxconn to start making MacBooks in Vietnam as soon as this month.
Vietnam already serves as a key production hub for the tech giant outside of China, manufacturing a wide range of flagship products for the company, including iPad tablets and AirPods earphones.