Asanzo in Pham Van Tam's time: "Growing like a rocket", once held 16% of the TV market share

(Dan Tri) - Although he no longer holds a leadership role at Asanzo Group, it can be said that Mr. Pham Van Tam's name is still associated with the rapid growth of this electronics manufacturer.

On September 3, the Ho Chi Minh City People's Procuracy announced that it had completed the indictment against Pham Van Tam (former Chairman of the Board of Directors of Asanzo Company) for the two crimes of "Smuggling" and "Tax Evasion". Mr. Pham Van Tam's younger brother, Mr. Pham Xuan Tinh (former Director of Asanzo Company), was also prosecuted for "Tax Evasion".

Asanzo Company was established in 2016. In 2019, this company was inspected by the Ho Chi Minh City Tax Department. The inspector determined that Asanzo Company purchased components from Tran Thoan Company and signed a contract with VTB Company to process and assemble a part.

Asanzo Company assembled finished air conditioners and sold them to Asanzo Refrigeration Company, but did not issue invoices or declare taxes. The tax audit conclusion showed that the total amount of tax evasion was more than 15.7 billion VND.

Mr. Pham Van Tam "withdrew completely" from Asanzo since 2018.

About Asanzo Group Joint Stock Company, originally named Asan Group Joint Stock Company, operating in the field of electronic components manufacturing.

Initially, the company had a charter capital of 100 billion VND, of which Mr. Pham Van Tam contributed 90 billion VND, equivalent to 90% ownership. The remaining 10% of capital was divided equally among 5 other investors, including 2 organizations: Asanzo Vietnam Electronics Joint Stock Company (established in November 2014) and Asanzo Media Company Limited (established in June 2016) and 3 other individuals.

By July 13, 2018, Mr. Pham Van Tam had divested almost all of his capital in the company, reducing his personal ownership to 1%. Not long after, institutional shareholders such as Asanzo Vietnam Electronics Joint Stock Company and Asanzo Media Company Limited also divested all of their capital.

After the divestment of founder Pham Van Tam, Mr. Pham Xuan Tinh (Mr. Pham Van Tam's younger brother) became the Legal Representative and Director of Asanzo Group. Since then, this enterprise has not updated its shareholder structure and charter capital.

In addition to Asanzo Group, the "ecosystem" of businesses related to Mr. Pham Van Tam also includes Asanzo Telecommunications Joint Stock Company, Asanzo Refrigeration Company Limited, Asanzo Investment Joint Stock Company...

Currently, although he no longer holds a leadership role at Asanzo Group, it can be said that Mr. Pham Van Tam's name is still associated with the "rapid growth" process of this electronic equipment manufacturer.

Tapping into the rural consumer's psychology of wanting to buy cheap goods

Asanzo started with the production and assembly of televisions in Vietnam, based on imported technology and components. The brand focused on producing low-cost electronic products, which quickly gained attention in the market.

For example, the Asanzo 25-inch TV brand was launched in September 2018 and was warmly welcomed due to its low price of less than 2 million VND/unit, mainly serving the rural market. This enterprise also took the lead in the market by launching many products suitable for the characteristics of each region, for example, in the West, it is a battery-powered TV, in the Central region, it is a circuit board that is resistant to seawater corrosion, and in the North, it invested in modern design.

Mr. Pham Van Tam at the Asanzo event in 2018. (Photo: Asanzo).

According to the group's published figures, Asanzo has sold more than 122,000 TVs just one year after entering the market. By 2015, this number had nearly tripled. In 2016, Asanzo's TV sales reached 500,000 units and continued to increase by 140% a year later.

Notably, during its golden period, Asanzo recorded TV sales performance second only to giants like Samsung, LG and Sony.

According to a report by market research company GfK, in 2019, Asanzo's market share in the Vietnamese television market accounted for about 16%, while the giant LG accounted for 17%, Sony 25% and Samsung 35%.

Also in 2019, with sales exceeding expectations, air conditioners accounted for 20-30% of Asanzo's sales, ranking second only to the main product, televisions.

"Growing up like a rocket" before getting into trouble

From a TV manufacturing company, after 6 years Asanzo has become a corporation with more than 70 electronic product lines including TVs, air conditioners, refrigerators, and smartphones. This corporation owns 7 factories, more than 2,000 employees, 15,000 points of sale, and 1,000 warranty stations nationwide.

The company’s business index also grew strongly. In 2014, Asanzo said its revenue reached 670 billion VND. By 2015, this figure had increased to nearly 1,600 billion.

By 2017, Asanzo's revenue reached 4,620 billion VND, 1.8 times higher than the previous year (2016 revenue reached nearly 2,570 billion VND).

In 2018, Asanzo set a very ambitious target of reaching VND10,000 billion in revenue. At the same time, founder Pham Van Tam shared the Group's IPO plan, expected to be implemented in 2020.

However, soon after, Asanzo got into a scandal about the origin of its goods, was accused by Sharp Vietnam of falsifying documents and providing false information... Asanzo gradually lost the sympathy of consumers.

Currently, on the official website Asanzo says the company is still focusing on providing electronic, refrigeration, and household appliances such as televisions, phones, freezers, air conditioners, air coolers, and distributing exclusive brands.

As for Mr. Pham Van Tam, after withdrawing from Asanzo, he is known to have developed a new business career, Winsan Group Investment Joint Stock Company, established in May 2020 with a charter capital of 300 billion VND.

Source: https://dantri.com.vn/kinh-doanh/asanzo-thoi-pham-van-tam-lon-nhanh-nhu-thoi-tung-nam-16-thi-phan-tivi-20250904091421277.htm