VietNamNet Bridge - Technology news site Tech Insider several days ago reported that Apple was in the process of acquisition of Vietnam’s largest listed technology corporation - FPT. However, FPT has denied the rumors.

According to Tech Insider, this is Apple's attempt to penetrate Vietnam, a fast growing market with a high number of potential users and technology enthusiasts. It said that with this move Apple could beat Samsung in Vietnam, because their equipment is considered a symbol of high social status.

"FPT is Apple's long-term partner in Vietnam. However, the two sides have never discussed the acquisition," said Mr. Nguyen The Phuong, FPT Deputy General Director of Finance, said.

Tech Insider’s information was released a few days after Bloomberg’s article about the plans to strengthen Apple's presence in Vietnam and Southeast Asia. In this article, FPT is referred to as a premium reseller of Apple in Vietnam.

In 2012, FPT built F.Studio shops modeled after Apple resellers in developed countries with staff trained by Apple. In an interview with Bloomberg, CEO of FPT Bui Quang Ngoc did not mention the acquisition. He only said that Apple is a "very strict" partner and its attention to Vietnam's market is a major change in strategy.

Apple products are very popular in Vietnam where youth favor branded products. IPhone sales in Vietnam increased over three times in the first half of the fiscal year. Apple now needs a marketing campaign throughout Southeast Asia, especially Vietnam, to expand its business in the market that has been left open for many years to rival Android.

S. Tung