iPhones are on display during a press preview of India's first Apple Store in Mumbai, India, April 17, 2023. (PHOTO / AP)

Apple said on Friday it would open its first online store in Vietnam next week, as the iPhone vendor doubles down on emerging markets to drive growth.

Apple did not say when it plans to open physical stores in Vietnam, which has a population of 100 million people

The opening on May 18 comes just weeks after the Cupertino, California-based company opened its first Apple stores in India - Mumbai and Delhi.

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Apple CEO Tim Cook is betting that emerging markets will provide more opportunities for growth, with younger populations and relatively few iPhones.

Apple did not say when it plans to open physical stores in Vietnam, which has a population of 100 million people.

"We're proud to be expanding in Vietnam," said Deirdre O'Brien, Apple's senior vice president of retail.

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Online stores often precede the opening of retail stores. Apple already sells products in Vietnam via licensed vendors and has multiple suppliers that assemble its gadgets in the country for export.

Apple first launched an online store in India in 2020.