December 15, 2019

Advertise with us
HOME NEWS Vendor › VinSmart to acquire 60% of Archos

VinSmart to acquire 60% of Archos

by Stuart Wilson, Wednesday 8 May 2019

Vsmart manufacturing facility
Vsmart manufacturing facility

Vietnamese conglomerate Vingroup has announced that it has struck a deal to acquire a 60% stake in French consumer electronics brand Archos. Through its subsidiary VinSmart, Vingroup will initially take a 29.5% stake in Archos with an agreement in place to increase its ownership up to 60%. The companies plan to collaborate on the production and distribution of consumer electronics products. Vingroup is listed on the Ho Chi Minh stock exchange with a market capitalisation of nearly US$16 billion.

Archos, a familiar name in European consumer electronics, has shipped over 20 million units of Google Android devices over the last 10 years, reaching a global presence in more than 25,000 sales points.

Vingroup has established its subsidiaries VinSmart and VinTech to boost its technology-related businesses and to rollout a comprehensive ecosystem of smart AI-enabled devices. VinSmart, the entity with which the partnership with Archos is launched, operates in particular in the production of smartphones and smart electronics devices.

The partnership aims at achieving the following objectives: developing Vingroup’s business in smart electronics devices and smartphones and increasing Vingroup’s market share in Europe in the consumer tech industry; establishing cooperation opportunities between Archos and Vingroup and its subsidiaries; and providing Archos with new financial resources and stabilizing Archos’ share capital ownership, with a new reference shareholder.

In the framework of the partnership, Archos shall benefit from VinSmart’s strong R&D support in various fields: new generation materials, AI, robotics, etc. It will take advantages of VinSmart’s partnerships with leading technology companies. It will access VinSmart’s manufacturing facilities having a significant production capacity, to speed up its new products development cycle and to reduce its time to market.

In the meantime, Archos’ track record expertise in the consumer electronics market will contribute to VinSmart’s expansion in Europe. By distributing VinSmart’s comprehensive line-up of smartphones, embedding best-of-breed innovations, available under the Vsmart brand name, Archos will contribute to extend VinSmart’s brand awareness across Europe and increase its sales in the area.

Archos and VinSmart entered into a collaboration agreement for Archos to become a distributor of VinSmart products in Europe with all new smartphones distributed via Archos shall under the brand Vsmart or other brands developed by VinSmart. Archos tablets and other devices, excluding smartphones, will be marketed in Asia under the brand Vsmart. VinSmart will manufacture Archos products including smartphones, tablets and other products.

Print this page  Recommend this article  Reply to this article    Del.icio.us   Digg   Technorati

December, 2019
MonTueWedThuFriSatSun
      1
2345678
9101112131415
16171819202122
23242526272829
3031     


Advertise with us

Login


Register here

Press Releases

Upload your PR here

Advertise with us