Google plans to completely move the production of its Pixel smartphones, as well as its watches and earbuds, from China to Vietnam and India by 2027 amid ongoing trade tensions between the US and China. The company expects Pixel shipments to grow by 8–10% this year, despite rising component costs.
The British company Serica Energy is acquiring Pharos Energy for £145.7 million to expand its operations in Vietnam and Egypt and increase its production resources. The deal has been approved by the boards of directors of both companies.
Moody’s has upgraded its outlook for Vietnam to “positive,” citing the strengthening of the country’s credit profile and a reduction in external risks. The agency also anticipates an upgrade in market status and expects rapid economic growth.