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The company said it saw a huge increase in demand following the pandemic and the rapid migration to digital technologies by SMEs as well as traditional offline businesses.

VinSmart will manufacture the phones in collaboration with chipmaker Qualcomm.

Regulators reportedly reached out to the leasing firms Ziroom and 5i5j, as well as China Construction Bank to explore if they can take over Danke’s business.

Online channels contributed 32% to the company’s 2019 revenue.

Tata Group would take over the entire 29% stake of BigBasket’s largest backer Alibaba.

In October, San Francisco-based Eat Just announced plans to build its first Asia factory in Singapore.

Huawei and Honor are absent from the list of early adopters of the chip.

Nasdaq-listed Nio also reported record-high deliveries in the same month.

As cross-border travel is still restricted, the China market has rebounded strongly.

“With the country’s strong foundation in aerospace and maritime engineering, Singapore could become a dominant force in space technology.”