Retail News CRM

Author: Mei Ling Tan

  • Tata Motors Rolls Out Its 50,000th Electric Vehicle

    Tata Motors Rolls Out Its 50,000th Electric Vehicle

    Tata Motors has announced achieving a new production milestone with the roll out of its 50,000th electric vehicle in India. The milestone EV, which was a Tata Nexon EV Max, rolled out from the assembly line, at the company manufacturing plant in Pune, Maharashtra. Right now, Tata Motors is the largest manufacturer and seller of electric passenger cars in India. Currently, the company sells the Nexon EV range, the Tiago EV and Tigor EV to private car buyers, along with the Xpress-T EV for fleet customers.

    The company says that a favourable policy environment, positive word of mouth from existing customers, practical product options, better ride and handling and attractive cost of ownership have helped the Company achieve this feat ahead of its target.

    Commenting on this achievement, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, “Celebrating 50,000th EVs in India is a strong testament to how our portfolio is resonating with people across the country. EVs are offering a practical solution to problems of rising fuel prices and worsening pollution. Customers are now ready to welcome EVs and we are thrilled to witness the transition from early adopters to now EVs becoming a mainstream choice for Indian customers.”

    Tata Motors has had a major hand in democratising electric cars in India. The Nexon EV has continuously been the largest-selling electric vehicle in India, and the Tigor EV and the Tiago EV are enabling further expansion of the company’s EV volumes. In fact, in the current fiscal year, between April and August 2022, Tata Motors has sold 17,150 EVs in India, doing an average of 3000-4000 units a month.

    All products are powered by the high-voltage Ziptron architecture, and all three of them offer an ARAI-claimed range of over 300 km. Furthermore, with an aim to make EVs easily accessible, Tata Motors has entered 80 new cities, expanding its network to more than 165 cities, helping consumers to adopt EVs as their mode of personal mobility. Going forward, Tata Motors is focusing on a three-phased architecture approach for EVs and plans to launch 10 EVs in 5 years.

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  • Hoa Phat steel sales fall by 42% in October

    Hoa Phat steel sales fall by 42% in October

    Hoa Phat Group’s sales plummeted by 42% year-on-year in October to 492,000 tons as domestic and global steel demand continued to fall.

    According to monthly data from Vietnam’s largest steel company, this is its lowest sales volume since February 2021.

    Construction steel sales fell by 45% year-on-year to 210,000 tons.

    Hot-rolled coil steel sales however rose 30% to 267,000 tons as the company was able to export large volumes to Indonesia and Malaysia.

    Several media reports have said the company is set to shut down four blast furnaces starting this month as market demand remains sluggish.

    HPG shares have fallen by nearly 30% this year to around VND13,800.

    Analysts at SSI Securities said in a recent note that weakening steel demand would remain a challenge for the company.

  • iPhone 14 Pro, Pro Max in short supply

    iPhone 14 Pro, Pro Max in short supply

    Customers have been waiting for a month for delivery of iPhone’s latest models, the 14 Pro and 14 Pro Max, due to high demand and low supply, retailers said.

    Apple said on its website on November 7 (Vietnam time): “We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products.”

    According to the U.S. firm, Covid-19 restrictions have temporarily impacted its primary phone assembly facility in the Chinese city of Zhengzhou.

    Phung Phuong of Mobile Vietnam said Pro and 14 Pro Max supply only met 20% of demand in the country. Nguyen Huu Phuc of Minh Tuan Mobile said there is no plan or schedule for the next batch of deliveries to customers.

    Quoc Thien of the central city of Da Nang ordered a purple 128 GB Pro Max in mid-October and was told it would be delivered in two weeks. The store then rescheduled the delivery to early November, but Thien did not receive it then, and has not heard about the new delivery date either.

    Diem Ai in HCMC’s Go Vap District said she urgently needed to buy 20 Pro Max phones to gift, but no store could supply them though she was willing to pay extra.

    Pham Tuan Anh of ShopDunk said hundreds of customers who have ordered the purple Pro Max with 128 or 256 GB are waiting for delivery, but phones in other colors and with larger capacities are available.

    The Pro and 14 Pro Max cost VND28.9-32.5 million (US$1,165-1,310). The purple version costs an additional VND1 million ($40).

    In contrast, the iPhone 14 and 14 Plus, also released in mid-October, are widely available.

    Retailers said sales of the two models account for less than 5% of total iPhone 14 sales.

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  • Gold demand triples in Q3

    Gold demand triples in Q3

    Vietnam’s gold demand more than tripled to 12 tons in the third quarter from 3.3 tons a year earlier. Bullion and coin sales rose to 8.5 tons from 2.4 tons, and jewelry sales to 3.5 tons from 0.9 tons, according to a report by the World Gold Council.

    “Vietnam saw a particularly significant year-on-year rise in demand. It more than tripled as local investors again sought refuge in gold, with high demand for rings and SJC tael bars.”

    The rise in jewelry demand comes amid Vietnam’s particularly robust recovery, with healthy GDP growth, incomes boosted by reversed salary cuts and companies returning to full employment, the report added.

    The price of gold sold at state-owned distributor SJC had fallen to VND65.2 million per tael (37.5 grams) at the end of September but has since risen 3.8% to around VND67.7 million now.

    Global gold demand (excluding over-the-counter trading) in the third quarter rose 28% year-on-year to 1,181 tons.

  • SCB holds meeting with An Dong bond buyers

    SCB holds meeting with An Dong bond buyers

    The Saigon Commercial Bank has held a meeting with investors who bought bonds from An Dong Investment Group, a company it endorsed but which has allegedly committed fraud.

    The meeting in Ho Chi Minh City Monday came on city authorities’ instructions. Many investors said at the meeting that SCB employees had persuaded them to buy the An Dong bonds with a lack of honesty.Some of them had withdrawn money at the bank when employees exhorted them to invest it in a “new type of product.”

    They never saw any papers that indicated they were buying bonds, and were merely told to sign a payment order. They received the bonds 10 days later.

    Hoang Minh Hoan, deputy standing director of SCB, said the bank never told its employees to be “dishonest” with customers. But the bank is concerned and would cooperate with Tan Viet Securities, the bond issuer, and government agencies to assist the customers, he said.

    Around 40,000 people bought An Dong bonds through SCB, according to Tan Viet Securities.

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  • UBS Names New Member to Executive Board

    UBS Names New Member to Executive Board

    UBS names Damian Vogel to its executive board and becomes chief risk officer, replacing the current CRO who is stepping down to focus on academia and photography.

    Damian Vogel succeeds Christian Bluhm as chief risk officer at UBS and will join the executive board effective the beginning of May, according to a statement from UBS Tuesday. The two will work closely together to ensure a smooth transition, UBS went on to say.

    Vogel currently serves as chief risk officer for the global wealth management (GWM) business and joined UBS in 2010, having services in several risk-related leadership roles in GWM, personal and corporate banking, and the Swiss business.

    Generally, when such announcements of executive changes are made, there tends to be a comment about «spending more time with family» or something equally banal. In the case of Bluhm, he is stepping down to focus (no pun intended) on his photography business. In addition, he is looking into opportunities in academia.

    Bluhm was the Group’s CFO since 2016 and pushed the department to embrace advanced analytics, digitalization, and AI.

    The re-making of the twelve-member group executive board under CEO Ralph Hamers continues to progress. Sarah Youngwood was appointed chief financial officer in May and Barbara Levi chief legal officer last November.

    Appointed under Hamers’ predecessor Sergio Ermotti are investment bank chief Robert Karofsky, asset management head Suni Harford, GWM chief Iqbal Khan, compliance officer Markus Ronner and Asia Pacific head, Edmund Koh.

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  • Why cryptocurrency is gaining popularity and how to get involved

    Why cryptocurrency is gaining popularity and how to get involved

    Cryptocurrency is a digital or virtual asset designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled. 

    Cryptocurrencies are decentralized – they are not subject to the control of government or financial institutions. Bitcoin, the first and most well-known cryptocurrency, was created in 2009 by an anonymous person or group known as Satoshi Nakamoto.

    Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a contraction of bitcoin alternatives. Altcoins include Litecoin, Bitcoin Cash, Ethereum and hundreds more. To get a crypto coin, you have to buy them from a broker. For example, if you want to buy cardano, you must first locate a good broker that is trusted then open an account with them. From there, you can easily get your coins using the payment method that fits you. 

    Cryptocurrency is stored in a digital wallet and can be used to purchase goods and services. Some people invest in cryptocurrency with the hope that it will appreciate in value (like investing in stocks, gold, real estate). But most people trade it like currency – buying low and selling high within a short timeframe, often within hours or even minutes.

    Cryptocurrency and its potential to take over traditional fiat currency

    Cryptocurrency has the potential to take over traditional fiat currency for a number of reasons. First, cryptocurrency is not subject to inflationary pressures like the fiat currency is. This means that cryptocurrency can maintain its purchasing power over time, whereas fiat currency will gradually lose value as more and more units are produced.

    Second, cryptocurrency is much more efficient to use than fiat currency. Transactions can be processed very quickly and at a very low cost using cryptocurrency. This is in contrast to fiat currency, which can take days or even weeks to process a transaction, and which often incurs high fees.

    Third, cryptocurrency is much more secure than fiat currency. Cryptocurrency transactions are verified and recorded on a public blockchain, which makes it very difficult for anyone to fraudulently alter or reverse a transaction. In contrast, fiat currency transactions are often processed through centralized intermediaries (such as banks) which are vulnerable to hacking and fraud.

    Fourth, cryptocurrency offers greater privacy than fiat currency. When you make a transaction with cryptocurrency, your personal information is not attached to the transaction like it would be with a credit card or bank transfer. This makes it much harder for someone to track your financial activity or steal your identity.

    For these reasons, cryptocurrency has the potential to eventually replace traditional fiat currency as the preferred medium of exchange worldwide.

    How cryptocurrency is becoming more mainstream

    Cryptocurrency is becoming more mainstream as a means of payment and investment. As a payment method, it offers a number of advantages over traditional methods such as credit cards or cash. For one, transactions made with cryptocurrency are generally faster and more efficient than those made with traditional methods. In addition, cryptocurrency is often less expensive to use than traditional methods, making it a more attractive option for businesses and individuals alike.

    As an investment, cryptocurrency offers a number of potential benefits. For one, the value of many cryptocurrencies has seen tremendous growth in recent years, meaning that investors who get in on the ground floor could see significant returns. 

    Additionally, cryptocurrency is often seen as a more volatile investment than traditional options such as stocks or bonds, meaning that there is the potential for greater short-term gains. Finally, because cryptocurrency is still relatively new and largely unregulated, there is a great deal of potential for future growth and development in the space.

    How to get started in investing in cryptocurrency

    There are a few things to keep in mind before investing in cryptocurrency. First, do your research and make sure you understand the risks involved. Cryptocurrency is a volatile, and prices can fluctuate wildly.

    Second, only invest what you can afford to lose. Cryptocurrency is a risky investment, and you should never invest more than you can afford to lose.

    Third, diversify your portfolio. Don’t put all your eggs in one basket, and don’t put all your money into one coin. Diversifying will help mitigate some of the risk involved in investing in cryptocurrency.

    Fourth, be patient. The cryptocurrency market can be very volatile, and it takes time to see real returns on your investment. Don’t expect to get rich quick with cryptocurrency; it’s a long-term investment.

    Finally, don’t forget to report any gains or losses on your taxes. Cryptocurrency is subject to capital gains tax, so make sure you keep track of your profits and losses so you can properly report them come tax time.

    What should I consider before investing in cryptocurrency?

    There are a few things you should consider before investing in cryptocurrency, such as:

    – How volatile the market is.

    – What is the potential for growth?

    – What are the risks?

    – How easy is it to buy and sell?

    – What fees are involved?

     

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  • Pergola kits are a rising choice in Asian commerce

    Pergola kits are a rising choice in Asian commerce

    When beautifying our homes, we have many options to choose from. Among the most popular choices for home gardening improvements, though, includes the use of pergolas. When fitted and installed correctly, pergolas can add freshness and charm to our outdoor spaces that we did not previously utilize. Today, you can find many places providing pergolas for sale. Across the Asian retail sphere, there has been a growing interest in using pergolas as the ideal outdoor home decoration.

    This has come for various reasons, but the ease of finding pergolas for sale online has become a common reason. Another reason is that pergolas, once seen as expensive and often unaffordable, are now much cheaper to invest in. Online specialists like Sunset Pergola Kits have become a common choice for Asians looking to buy affordable DIY pergola kits.

    A big reason for the popularity of pergolas is their commonality in the Western world. While Asia has its own cultures and customs, the globalized nature of life today means it is common for nations to borrow from other cultures. Across Asia, this has seen a rise in the number of Western-inspired designs. It is more common today to find pergolas in the gardens and landscapes of many Asian homes purely because they are so commonly found across Western culture.

    Add in the functional nature of a pergola, and it is easy to see why so many Asian shoppers see them as the ideal add-on to their garden space. If you are looking for a way to change your outdoor space this year, then you might wish to consider following this trend and investing in some pergolas.

    Pergola ease of setup helps to fuel interest

    Another reason for this growth is that a pergola can be easily set up. Compared to other outdoor fixtures, it would not take many challenges at all to set up a pergola and see how it looks. This is one of the main reasons pergolas are a big part of the current aesthetic trend across the continent; people like to have easy-to-arrange and manage outdoor furnishings.

    Pergolas are one of the easiest-to-assemble add-ons that one can add to their garden. When set up correctly, a pergola can be the perfect way to help add some functional coverage without having to close off the entire outdoor space.

    In a part of the world where so many of us focus heavily on functionality, something like a pergola can be game-changing. It offers a comfortable aesthetic change without being excessive, and it can easily be fitted into place even by non-professionals.

    For those looking for ways to change their garden and landscape, it might be worth keeping an eye on this trend. Asian retail sectors are seeing increased demand for pergola kits with good reason – this might be the new landscaping trend for the future.

     

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  • Telegram adds voice-to-text for video messages

    Telegram adds voice-to-text for video messages

    Telegram announced a new update that brings some new features for Premium users and some visual changes available to everyone. The most significant change included in the update is the addition of voice-to-text for video messages, which is now available for Telegram Premium users.

    Previously, subscribers could convert any voice message to text, but the latest update adds the same functionality to video messages. If you’re paying for Premium, you’ll now be allowed to get an instant text transcript of a video message.

    Apart from that, Telegram introduced Topics in Groups, a new feature that allows groups with over 200 members to enable topics and create separate spaces for any subject. The new feature works as individual chats within the group and supports their own shared media and notification settings.

    Another interesting new functionality included in the update, a collectible username, is meant to make it easy for others to contact Telegram users or find their public groups in channels. Besides one basic username, Telegram users can now assign multiple collectible usernames to each of their accounts and public chats. These can be less than 5 characters long and can be traded via blockchain.

    Once again, Telegram is showing emoji fans a lot of love. The latest update adds 12 new emoji packs available for Premium users, some made specifically for Halloween.

    Telegram users on iOS will be getting a redesigned Night Mode. Dark themes have been updated to make colors more balanced with better blurring effects as users scroll in chats and the chat list.

    As far as Android users go, the update introduces new options to resize text. If you want to increase the size of chat text, including link previews, reply headers and more, you’ll find the new functionality in Chat Settings.

    Finally, some minor design improvements have been implemented too. For example, a new animation has been added when swiping left to reply. Also, tapping a user’s phone number in their profile page will now open a new menu with several call options.

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  • Disney Plus, Hulu raising prices in December

    Disney Plus, Hulu raising prices in December

    Disney Plus announced back in August that it will launch its own ad-tier service in December. One of the few streaming services that didn’t allow customers to pay less for its services and see ads, Disney Plus is aligning its offering to the market.

    Unfortunately, along with the new ad tier, Disney Plus announced a price hike for its ad-free streaming service. Starting December 8, Disney Plus will cost $11 per month, as opposed to just $8. Customers who don’t want to pay for the ad-free tier can keep paying $8 per month, but they will get ads.

    Since Disney Plus still allows customers to pay in advance for its streaming services, you have until December 7 to grab a Disney Plus annual subscription and avoid the upcoming price hike, at least for one more year.

    As far as Hulu goes, things are a bit more complicated. While the ad-supported and ad-free subs remain the same at $8 and $15 per month, respectively, all Hulu + Live TV bundles will be slightly more expensive starting next month.

    For example, the $70 per month bundle featuring Hulu with ads, Disney Plus without ads, ESPN+ with ads, and live TV with ads will cost $75 come December 8. Additionally, the same bundle but with no ads on Hulu will be priced at $83 per month, $7 more than the current price.

    From December 8 onward, the cheapest bundle including Disney Plus and Hulu will cost $70, but it will screen ads on all services included in the bundle. Customers who have already paid the $3 extra fee for ad-free Disney Plus via Hulu will get to keep service beyond December 7, but the option will no longer be available afterward.

    The only good news is that ESPN+, one of the streaming services included in the bundles, will not get a price hike and will still be available for $10 per month.

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  • Apple reportedly working on a way to shorten Siri trigger phrase

    Apple reportedly working on a way to shorten Siri trigger phrase

    Siri has become a signature feature of the Apple ecosystem. While the virtual assistant has become a part of almost every product the Cupertino company manufactures, its allure has somewhat lagged behind in recent years.

    At least a part of that seems to be attributed to the less-than-ideal phrase that users need to utter in order to access Siri – ‘Hey, Siri’. A notorious pet peeve of numerous Apple users is the plethora of phrases that can trigger Siri by mistake.

    Apple seems to have identified this problem and is reportedly working on a solution. According to Bloomberg’s Mark Gurman, the final authority on all things Apple, the tech giant is developing a simplified way to access Siri. This information was first brought forward in Gurman’s Power On newsletter.

    The main goal is to find a way to drop the ‘Hey’ in the trigger phrase, so as to enable users to directly initiate a command, following the word ‘Siri”. For example, instead of the whole “Hey Siri, play some music”, users could simply say “Siri, play some music”. This is similar to how Amazon’s Alexa currently works.

    As mundane a change as this might seem like, according to Gurman, it is a ‘technical challenge that requires a significant amount of AI training and underlying engineering work’. The change is supposed to roll out sometime in the next couple of years – Gurman gives a rather rough estimate for a launch date in either 2023 or 2024.

    The biggest complexity is making sure that the single word ‘Siri’ can be picked up regardless of the speaker’s accent and/or dialect. By making the trigger phrase shorter, the likelihood of the phrase not being properly detected increases significantly – hence, the programming difficulties.

    Siri has come a long way since it made its debut and Apple is continuously working on ways of improving its virtual assistant. This seems like the logical next step in that direction.

  • Shipping firms sail past annual profit target in 9 months

    Shipping firms sail past annual profit target in 9 months

    Many shipping firms have earned profits surpassing their annual target in the first nine months of the year, riding a wave of high demand and high freight rates.

    The Petrovietnam Transportation Corporation recorded after-tax profits of nearly VND390 billion ($15.7 million) in the third quarter, more than 2.5 times year-on-year. Its pre-tax profits of over VND1.035 trillion in the first nine months exceeded 72% of its annual plan.

    The Hai An Transport and Stevedoring Joint Stock Company saw its Q3 after-tax profit increase by over 2.7 times year-on-year to VND270 billion. The firm’s profit in the first nine months was 1.5 times bigger than its yearly plan.

    Similarly, Gemadept Corporation’s profit in the third quarter surged by over 76% to nearly VND290 billion. Its after-tax profit rose nearly 84%, realizing 94% of the annual plan.

    The Vietnam Ocean Shipping Jsc Earned gained pre-tax profits of VND566 billion in the first nine months, a 38% year-on-year increase, and exceeding the annual plan by 45%.

    While it saw a fall in Q3 profit, the Vietnam National Shipping Lines posted profits of over VND2.77 trillion in the first nine months, a year-on-year increase of more than 30% and more than 10% of the annual plan.

    Many shipping firms attribute the bigger profits to high demand and high freight charges. A manager with the Petrovietnam Transportation Corporation said freight charges had increased in the third quarter, resulting in bigger revenues.

    Over 77.8 million tons of cargo was transported by sea in the first nine months, up 27.5% over the same period last year, according to the General Statistics Office.

    According to data from Freightos, one of the world’s largest freight booking platforms, Feightos Baltic Index, the global container shipping index, fell from $6,577 to $4,060 in the third quarter. However, the rate was still 2-3 times higher than the average of $1,800-2,000 in the same period last year. Compared with the third quarter of 2019, the rate was nearly 3.5 times higher.

    In Vietnam, the sea freight index increased nearly 5% in the third quarter, and rose over 11% in the first nine months.

    Brokerage firm SSI Securities has predicted that the global index will gradually return to normal due to weaker demand and bigger supply of container ships in the last months of this year. Freight charges may decrease sharply next year if supply chain disruptions die down and China reopens to the outside world, it said.

    In Vietnam, charges may remain at their peak in 2023 as the market is still undersupplied as most of the Vietnamese fleet is leased to foreign markets under long-term contracts, according to SSI Securities.

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  • Government mulls 250 kph transnational railway

    Government mulls 250 kph transnational railway

    The Ministries of Planning and Investment and Transport will study the possibility of building high-speed rail across Vietnam to transport both passengers and cargo.

    The dual-gauge railway, with design speeds of 250 kilometers per hour and operational speeds of 180-225 kph, is required as rail only carries 6% of passengers and 1.4% of cargo on the north-south route, the planning ministry said.

    When completed it would be a key means of transport capable of carrying large volumes of cargo, connect major economic centers and boost growth, it said.

    It suggested that the railroad be built under a public-private partnership and funded partly by auctioning lands near the 50 stations along the route.

    The 250-kph option has been suggested by a consultancy consortium over a 350-kph option which can only transport passengers.

    Though costing more to build, it would have a higher chance of recouping the investment thanks to cargo transport, the consortium comprising the University of Transport and Communications Consultancy and Construction, Germany’s Evo mc, Ove Arup & Partners Hong Kong, and Hung Phu Trading and Construction Consultant said.

    They will respectively cost US$62.7-64.8 billion and $58.7 billion.

    Since 2019 officials have been considering the transnational rail since roads and airports are becoming increasingly overloaded.

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  • Gold prices hit 3-month high

    Gold prices hit 3-month high

    The Saigon Jewelry Company (SJC) hiked the price of gold by VND400,000 ($16.08) per tael to VND67.7 million Saturday morning.

    This is the biggest increase by the state-owned firm since the beginning of August. A tael equals 37.5 grams or 1.2 ounces.

    Jewelers sold gold rings for VND53.3 million per tael.

    After a lengthy period of fluctuating within a restricted range, the domestic gold price has risen on the momentum of an increase in the global market.

    The global gold price closed November 4 at US$1,682 an ounce, up $52 from the previous day.

    The increase in gold prices happened on hopes that the U.S. Federal Reserve (Fed) would delay the pace of interest rate hikes after a jobs report indicated American businesses had employed more workers, although the overall unemployment rate had risen.

    Domestic gold prices have risen by around VND700,000 per tael since the beginning of the month.

    However, the owner of a gold shop in HCMC’s District 8 said that demand has not increased because “gold is losing its appeal while banks’ deposit interest rates have continued to rise.”

    In contrast to gold, there are signs that the dollar’s surge is cooling down.

    State-owned Vietcombank sold the dollar at VND24,877 Sunday, down roughly VND5 from the beginning of the week.

    At the moment, Vietnam’s gold price per tael is around VND17.2 million dong greater than the global price.

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  • Dollar hike spikes iPhone prices

    Dollar hike spikes iPhone prices

    Electronic retailers have hiked iPhone prices by around VND1 million (around $40) as the U.S. dollar strengthens against the Vietnamese dong.

    The prices of iPhone 11 has increased from VND10.7 million last week to VND11.3-11.7 million this week, that of iPhone 13 from VND18.5 million to VND19.1-19.3 million, and iPhone 13 Pro Max from VND27 million to VND28-28.5 million.

    The U.S. dollar has risen 8.55% over the Vietnamese dong since the beginning of this year.

    Most retailers have hiked prices of older models like iPhone 12 and iPhone 13 Series by more than 5%, but kept those of the latest model, iPhone 14, unchanged to attract customers.

    However, many dealers say that the selling prices of iPhone 14 will also increase sooner than later because of the exchange rate.

    A 24hStore manage told Tuoi Tre newspaper that iPhone 14 prices are likely to go up by more than VND1 million, and that of iPhone 14 Pro by more than VND2 million.

    Since the U.S. dollar has risen against the Vietnamese dong to nearly VND25,000, the selling prices of other new products of Apple, including iPad Pro M2, iPad Gen 10, MacBook and Apple Watch, as well as their accessories such as styluses and keyboards, have increased by 5-7%.

    A CellphoneS store manager said most importers and distributors of Apple products and related accessories such as charging cables and speakers have hiked their selling prices by 5-10%.

    Some others, which have yet to increase prices, have cut promotions.