The company, a subsidiary of Vietnam’s largest listed company, Vingroup, ranked behind South Korea’s Samsung (30.1 percent) and China’s Oppo (22.4 percent), according to market research firm GfK.

Vivo was fourth with 7.7 percent, followed by Xiaomi/Redmi and Apple.

Almost 10 smartphone brands have been eyeing the third place in recent years, with Apple, Xiaomi and Vivo the most notable names. No brand has remained in third for more than six months.

VinSmart, which launched its first products at the end of 2018, is currently focusing on the low-end segment of the market, with 12 Vsmart phones all priced at below VND5 million ($212).