Founded in 2005 with its original business in wholesale mobile phone distribution in Vietnam, Mantis Vietnam Group Joint Stock Company (Mantis Vietnam) has now been in the market for 20 years. For a company that started modestly with only three employees, it has experienced countless ups and downs on the path to market expansion.

This journey reflects the shared dream of many small and medium-sized enterprises in Vietnam, like Mantis Vietnam, even to this day.

From a Distributor to a Technology Company

Unwilling to remain a small business, Mantis transformed challenges into motivation. By 2007–2010, the company had rapidly expanded into assembling TVs, manufacturing electric fans, and distributing electronic, refrigeration, and household appliances for major global brands—bringing in hundreds of billions of VND in annual revenue.

However, in 2010, a global economic crisis struck. Record-high interest rates of 24% per annum forced consumers to tighten their belts and caused a wave of bankruptcies, which significantly impacted a still-young company like Mantis. This situation prompted the Board of Directors to restructure its operations, adjust business strategies, and enhance internal capabilities to help the company survive the crisis.

In today’s market, most companies in the electronics sector are foreign-invested enterprises (FDIs). Mantis stands out as one of the few Vietnamese firms in the consumer electronics technology space, powered by a dynamic team with experience at multinational corporations. With a vision to elevate Vietnam’s electronics industry to the global level, Mantis faces stiff competition from countries like China and South Korea, which have far more advantages.

“The 3 Nos” – A Distinct Strategy to Compete with China

When asked about how Mantis competes with large-scale Chinese manufacturers, the company’s founder, Mr. Lê Huỳnh Lân (MSc.), shared their unique “3 No” strategy:

1. No Copying: Embracing a “localization” approach, Mantis designs products based on ideas from its R&D team tailored to Southeast Asian consumer preferences—where karaoke culture thrives. “A microphone must be easy to sing with, without feedback or screeching. The bass must be deep and warm, the sound clear, and the price reasonable. This is no easy formula—not every factory can solve it.”

2. No Undercutting: Instead of competing on price, Mantis invests in sound quality with the belief that no company can sustain itself long-term by producing low-quality, cheap goods. Only reasonably priced, high-quality products can endure. In recent years, Vietnamese-made karaoke sound systems have proven they can compete fairly with foreign products in the domestic market.

3. No Going Solo: As a member of the Executive Committee of the Ho Chi Minh City Semiconductor Circuit Association (2025–2030 term), Mantis has also formed partnerships with several universities—most notably the University of Science, Vietnam National University – Ho Chi Minh City—to strengthen R&D and integrate new tech features that enhance competitiveness.

Vietnam – A Rising Star in the Global Supply Chain

Vietnam now ranks 4th in trade surplus with the United States, behind only China, Canada, and Mexico. The country offers low production costs, is prioritizing investment in manufacturing technology, has signed numerous free trade agreements (FTAs), and maintains a stable monetary policy with low-interest rates—providing major advantages for domestic enterprises. In a world increasingly seeking alternatives to “Made in China,” Vietnamese businesses like Mantis have a real opportunity to grow—if they dare to dream and act boldly.

Mantis Vietnam Group Ecosystem – More Than Just Sound

From its technological core, Mantis Vietnam Group has expanded into a four-sector ecosystem:

• MantisTech: Focused on software and AI application development.

• Mantis Audio: Designs and manufactures audio equipment to bring Vietnamese brands to the global market. The company also provides OEM/ODM services for domestic and international partners on request.

• MantisReal: Invests in and manages high-quality serviced apartments and rental properties in Ho Chi Minh City, and develops real estate in surrounding provinces.

• MantisEdu: Plans to offer training programs for recent graduates through a team of experienced industry professionals in collaboration with Mantis Edu—providing practical, job-ready skills both locally and internationally.

Connecting Communities, Nurturing Innovation

Mantis is not only focused on business growth but also actively engaged in community development. The company sponsors scholarships for underprivileged yet academically strong students and supports dozens of student and community projects at the University of Science – VNU-HCM. This demonstrates a strong sense of social responsibility, in tandem with a long-term vision for sustainable business growth.

“We don’t just make products; we create pride for Vietnam on the global stage. That is our dream and also the mission of Mantis Vietnam.”
— MSc. Lê Huỳnh Lân, Founder of Mantis Vietnam Group.

Source: thanhnienviet