Since Vingroup discontinued its smartphone line VinSmart, there is only one local smartphone brand left in Vietnam: BPhone.

Although making smartphone seems to be a deadend for Vietnam suppliers, the technologies could be applied to manufacturing IoT devices, according to Vietnamnet.

CEO at BKAV Corporation, the parent company of BPhone, said those familiar with the core technologies of a smartphone will have the greatest advantage in manufacturing IoT devices, according to Vietnamnet.

Vingroup has started developing smart devices for vehicle and household uses, including car electronics and entertainment systems for VinFast's EVs. BKAV is also delivering its first batch of smart cameras to the US.

VinSmart was once among the top-3 smartphone brands in Vietnam with 16.7% market share. Before VinSmart came into the market, Samsung and Oppo were the top ones with a combined market share of 60% and other brands rarely won over 10%, according to Vietnamnet.

Apple, Xiaomi, Vivo, Realme, and VinSmart were the ones struggling for market share. Mobiistar, Sony, LG Electronics, HTC, Asus, and Lenevo had to exit the market. Local brand Mobiistar once achieved 6% market share but could not make it last.