Vietnam Smartphone Market Size, Growth Insights, Top Countries Data, Industry Share and Future Forecast 2017 to 2027

Growing demand for ‘Made in Vietnam’ smartphones and increasing use of social network applications are driving the smartphone market in Vietnam.

According to TechSci Research report, “Vietnam Smartphone Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F”

The Vietnam Smartphone market is forecast to grow at an impressive CAGR of around 7.48% in the forecast period due to the rapidly expanding customer base for high-end smartphones and the consumer shift towards 'Made in Vietnam' smartphones. The Vietnam smartphone market is also driven by 4G and 5G smartphones, as the government has banned the imports of 2G and 3G devices.

However, Vietnam needs to act with care, given that the international economy is struggling due to the conflict in Russia and Ukraine, high gas costs, rising prices for raw commodities, and broken supply chains. Vietnam lacks qualified human resources, and its logistics and infrastructure are still underdeveloped.

There is a high demand for smartphones from offline stores in the distribution channel compared to online sales channels. For instance, the monthly smartphone market sold through online channels ranges from 170,000 units to more than 226,000 units from August 2020 to January 2021.

Retailers are rushing to open stores in Vietnam that are exclusively dedicated to selling Apple products due to the rise in high-end iPhones. Samsung also works with partners to open Samsung Premium Store locations across the nation at the same time. In 2021, Samsung established five new premium stores in Vietnam's Ho Chi Minh City and Hanoi. The stores adhere to Samsung's strict design and safety guidelines, and they give customers the chance to test out the most recent mobile products from the company, including the Galaxy Tab A8 mid-range tablet, foldable gadgets like the Galaxy Z Fold 3, and wearables like the Galaxy Buds 2 and Galaxy Watch 4 series. On the other hand, Xiaomi is also planning to establish its stores in Vietnam.

Samsung holds the largest market share of 33.8% in 2021 as the company offers a wide range of products for all segments. They also provide attractive designs with the latest technology, which attracts customers more.

During the COVID-19 pandemic, electronics and appliance retail stores were closed, affecting the demand for smartphones due to a decrease of around 5% in the overall smartphone market. Since the pandemic compelled people to stay at home, gaming has become a common amusement. Free-to-play mobile games still make up a significant portion of the market, particularly in Vietnam. This makes mobile games easily accessible and draws in many new players during social estrangement without incurring considerable marketing expenses. Mainly, over the same period in the first quarter of 2020, downloads rose by 40%, and the number of players rose by roughly 30%. This increased the demand for smartphones from online sales channels.

In terms of the operating system, the market is segmented into android, iOS, and others. Android occupies the largest share of around 85% due to its ease of availability and wide range of applications. But in the forecast years, Apple's operating system, iOS, is growing because it gives more security than android, and it is not easy to hack, which provides the customer with a sense of security.

Browse over 22 market data Figures spread through 70 Pages and an in-depth TOC on " Vietnam Smartphone Market"

https://www.techsciresearch.com/report/vietnam-smartphone-market/14149.html

The Vietnam Smartphone market is segmented based on the operating system, display technology, distribution channel, and region. The operating system is segmented into android, iOS, and others (Blackberry, Windows, etc.). In terms of display technology, the Vietnam Smartphone market is segmented into LCD, OLED, AMOLED, and others (FHD+, LCD+FHD, etc.). The distribution channel segment is divided into multi-brand stores, exclusive stores, online, and others (supermarkets, hypermarkets, etc.). Multi-brand stores have dominated the Vietnam Smartphone market, but online channels have gained popularity after the COVID-19 pandemic.

Key market players in the Vietnam Smartphone market include:

• Samsung Vina Electronics Co Ltd
• Guangdong OPPO Mobile Telecommunications
• Apple Inc
• Vivo Communication Technology Co Ltd
• Xiaomi Corp
• Huawei Technologies Vietnam Co Ltd
• LG Electronics Vietnam Co Ltd
• Microsoft Corp
• Sony Electronics Vietnam Ltd
• HTC Corp

Vietnamese companies have released a list of their phones, most of which are less expensive Android variants. The Vsmart is a brand of smartphone that is now being offered for roughly USD100 by a division of the Vingroup conglomerate in Ho Chi Minh City.

In Vietnam, Samsung currently operates two smartphone factories: one in Thai Nguyen province and one in Bac Ninh province (called SEVT). As of the previous year, they could produce 182 million devices annually or 61% of all smartphones made by Samsung.

The factories produced about 60% of the company's total smartphone output in early November in the year 2021. Samsung wants to cut this by almost 50%, or 163 million units annually.

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“The nation that has spent the last 30 years depending on industrial jobs is migrating up the value chain into electronics. This will help the country to increase the production of smartphones, and the market will grow at an increasing rate.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Vietnam Smartphone Market, By Operating System (Android, iOS and Others (Windows, Blackberry, etc.)), By Display Technology (AMOLED, OLED LCD, Others (FHD+, LCD+FHD)), By Distribution Channel ((Multi-Brand Stores, Exclusive Stores, Online, Others (Supermarket, Hypermarket, etc.)), By Region, Competition, Forecast & Opportunities, 2017-2027F”, has evaluated the future growth potential of smartphones market in Vietnam and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Vietnam smartphones market.

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