The Vingroup subsidiary VinSmart signed a strategic partnership agreement on July 5 with Spanish technology company BQ for the production of Vsmart smartphones.

VinSmart has purchased the Spanish company’s intellectual property rights under the agreement to develop two smartphone models for the high-end and low-end segments.

The deal will allow VinSmart to introduce Vietnamese-branded smartphones with future-oriented designs and European-standard technology.

It will take advantage of BQ’s strengths in almost all aspects of the production chain, ranging from product design and research and development to production. It will also work closely with BQ in product research and development to apply advanced technologies in production.

“We are working with the world’s leading organizations to seek qualified experts and to streamline the phone production line,” VinSmart CEO Nguyen Mai Hoa said at the signing ceremony. “Together with VinFast, Vsmart phones will contribute to the development of Vietnamese industry and introduce the Vietnamese brand to the world.”

Established in June, VinSmart has charter capital of VND3 trillion ($131.4 million) and will produce smartphones of international standard and stay abreast of Industry 4.0. It will also conduct research on artificial intelligence, with a plant located in the northern city of Hai Phong.

BQ is cooperating with many leading technology companies around the world, such as Qualcomm and Google, as well as Spanish universities on research and development, thereby integrating the world’s modern technologies into Vsmart products. It specializes in producing and distributing smartphones, tablets, robotics, 3D printers, and accessories.

Its objective is to help people understand technology and inspire them to use it and develop it. To do this it is committed to education in technology, a DIY philosophy, and Open Source. It applies this philosophy to its products, such as smartphones, 3D printers, and robotics, among others, as well as its software solutions, working towards making technology a tool that improves the world and the lives of users.