The company, a unit of Vietnam’s biggest listed company Vingroup, announced Thursday it had sold on average 200,000 smartphones a month during 2020, up 260 percent year-on-year.

VinSmart claimed 16 percent of the market in April, securing third place behind South Korea’s Samsung and China’s Oppo.

The company launched its first products at the end of 2018 and is currently focusing on the low-end market segment, with most of its 12 Vsmart phones priced below VND5 million ($214).

Vietnamese spent nearly VND90 trillion ($3.8 billion) last year on 15 million smartphones, according to data from a market research company acquired by VnExpress. Samsung led sales with 6.3 million units, followed by Oppo with 3.6 million.