09:02 | 25/04/2019 Economy
(VEN) - BQ, a European engineering company dedicated to developing technological devices such as smartphones, 3D printers and robotics, has signed a strategic partnership agreement with VinSmart, a member of the largest private conglomerate in Vietnam -Vingroup. Under the agreement, BQ will sell intellectual property rights to Vinsmart in order to develop two Vsmart branded smartphone products for the high-end and mid-range markets. BQ and Vingroup are already working on other new areas of business relating to artificial intelligence (AI) and the Internet of Things (IoT). Rodrigo del Prado, Deputy General Director of BQ spoke with the media after the recent launch of Vsmart smartphones in Spain.
|Rodrigo del Prado, Deputy General Director of BQ (standing), spoke at the launch of Vsmart brand and product in Spain on March 20|
Usually, European technology companies buy technology startups from developing countries in Asia, but the BQ-Vingroup deal is different, as Vingroup holds a controlling stake. How does this partnership benefit BQ?
It is a great combination. BQ is one of the leading engineering companies in Europe. We have been for many years creating products, services and solutions for our purposes and for our partners. From now on, BQ will receive investment from Vingroup to expand its research.
Vingroup has just shifted to technology development, including smartphone production, without owning many inventions like other big phone companies. Does this affect BQ?
This partnership allows us to be even more ambitious. We function as an independent research unit, offering inventions for Vsmart smartphones, forming and developing VinSmart devices and ecosystems.
Moreover, with Vingroup’s investment, BQ is aiming to conquer the fields of artificial intelligence and the Internet of Things. We are a company of engineers, innovation is part of our DNA and Vingroup shares the same vision.
BQ currently owns many research labs and employs hundreds of leading technology engineers. How will that play out in the partnership with Vingroup? What can BQ do for VinSmart?
BQ will join forces with VinSmart. At BQ, we have a team of more than 250 engineers working in the fields of mechanics, electronics, software, hardware and design, with experience in consumer electronics development that is almost impossible to find in Europe.
BQ staff members are working with VinSmart’s technicians in Vietnam or Spain like people from the same family. These are just initial efforts, and we will continue to work together in other areas so that our strengths complement each other.
VinSmart’s target in Spain is not only smartphones but also a smart ecosystem. What role does BQ play in this VinSmart development direction?
BQ joined VinSmart to build a smart technology ecosystem, of which smartphones are the initial and key part. As an engineering company, we develop features to improve products of VinSmart’s smart ecosystem. It can be said that BQ plays a resonant role in developing VinSmart’s technology platform.