Covering 8,000 square meters, the new facility in Long An Province costing VND200 billion (US$8.8 million) will supply electronic products to customers in the Mekong Delta, according to Asanzo chairman Pham Van Tam at the launch of Vietnamese smartphone models Asanzo S2 and S3 on January 30.

He said the new factory is also intended to reduce overloaded production at its two HCMC-based plants whose products are mainly distributed to southeastern and central Vietnam, in addition to its plant in the northern province of Hai Duong.

Tam said the company plans to build a new plant in the outlying district of Cu Chi, HCMC. The facility is expected to cover around 17,000 square meters, and cost an estimated US$20 million. It is aimed at offering a wide variety of products to customers in central and southern Vietnam.

He stressed Asanzo is striving for a closed production process to improve the quality of its products, and meet the customer demand all over the country.

The company, set up in 2013, made over VND4.6 trillion (US$203.7 million) in revenue last year, up from around VND2.7 trillion in 2016. Television was its key product, making up a whopping 90% of its total revenue.

As of late last year, Asanzo was ranked fourth on the local television market at 16%, behind Samsung with 35%, Sony with 25% and LG with 17%, according to market research company GfK Vietnam.

The company made its Smartphone Asanzo debut last August, with around 8,000 devices sold. In addition to televisions and smartphones, Asanzo produces other electronic products and household appliances.

Asanzo looks to raise its revenue to over VND8.3 trillion this year to enter the top three on the television market.