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Daily News

Sony Vietnam to Begin Assembling Camcorders
May 19, 2003
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Sony Vietnam plans to become the country's first assembler of camcorders this August, even though the joint venture's license is due to expire in November 2004.

Managing director Fumiatsu Hirai said at a press briefing in Ho Chi Minh City that four models would be produced, starting at a list price of VND6.99 million (approximately U.S. $450) and ranging all the way up to VND18.99 million (approximately $1,230).

According to the company, 3,160 new camcorders were purchased in Vietnam last year, but it expects the annual total to increase to 5,000 this year and 20,000 by 2005.

Mr. Hirai refused to give any figures relating to the cost of starting up a camcorder assembly line, but he confirmed that the electronics maker will be in Vietnam for the long haul.

Sony and its Vietnamese partner, Vietronics Tan Binh, are in talks over the future of Sony Vietnam after its license expires in November 2004. A 3-, 5-, and 10-year extension are being discussed, with the two sides hoping to reach an agreement this October. (Asia Pulse)

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