Apple has opened a subsidiary company in Vietnam, its fastest-growing iPhone market, reports Reuters.

Apple Vietnam Limited Liability was established on Oct. 28 with a registered capital of 15 billion dong ($672,194), according to a news announcement recorded on Vietnam’s national business registry website.

The company will ‘conduct wholesale business,’ read: directly import and distribute iPhones within the country. Apple tripled its sales in Vietnam in the first half of last year – a higher growth rate than in either China or India, though of course among a far smaller population.

Photo: thousandwonders.net

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