PET - Waiting for the Galaxy S4 - Visit Note
We visited Petrosetco on 19 March 2013. Jan and Feb 2013 sales appear slow as consumers delayed purchases, waiting for the Samsung Galaxy S4 (announced 14 March). The new flagship phone, successor to the very popular S3, will likely arrive on Vietnam’s shores in 2-4 months. The S4 and new smart phones in the lower-price range slated for April should boost sales. We maintain a BUY rating with 12M target price of VND28,000.