Aqua Vietnam seeks to increase market share in Việt Nam

Thursday, Nov 23, 2023 10:19

A production chain at Aqua Electrical Appliances Vietnam Company Ltd’s factory in Đồng Nai Province. — Photo Courtesy of Aqua Electrical Appliances Vietnam Company Ltd

Japanese Aqua Electrical Appliances Vietnam Company Ltd plans to expand its business and market share in Việt Nam by further developing new business models, including co-operation with laundry shops.

In addition, Aqua said co-operation with partners will also be undertaken in sectors relevant to the company’s production, such as refrigerators, TVs and air conditioners.

According to the company, in the complex economic context of 2023, consumers are increasingly changing their behavior, habits and priorities. However, the need to optimise quality of life and enhance experiences remains unchanged, especially at the end of the year, when the market has many signs of warming up and this need becomes even more obvious.

Therefore, the business has developed a variety of quality products to meet the needs of Vietnamese consumers.

Nguyễn Phan Việt Phương, head of washing machine group at Aqua Electrical Appliances, said that there has been a significant change in the Vietnamese market in general and in the Vietnamese electronic market in particular.

Consumption has declined by 20 per cent year-on-year, but is expected to rebound in the coming time, Phương said.

To catch the opportunity, Aqua Vietnam said it consistently promotes research and development activities as well as studies the market so that it is able to bring to the market state-of-art products that fit Vietnamese consumer demand.

More importantly, the company said it optimises production and operating costs by investing in advanced automatic machinery.

Unnecessary operation costs will be cut down, it said.

Aqua always explores innovative development strategies to enhance competitiveness in the digital era. The company always prepares appropriate technology development and improvement plans to enhance the competitiveness of its business. With great efforts, Aqua hopes that consumers will always support and trust its products, Phương said.

In 1996, Aqua laid the foundation and built the first manufacturing factory in Việt Nam. In 2023, Aqua Vietnam was honoured as one of the top 10 most famous and competitive brands at an event organised by the Vietnam Intellectual Property Association. — VNS

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