Vietnam's Smartphone Exports Hit Rock Bottom In SEA

On May 22nd, 2023, Luu Quy wrote a blog at 03:25 pm PT.

In the picture, a man is holding an iPhone 14 Pro Max. The photo was taken by VnExpress/Tuan Hung.

A recent report said that shipments of smartphones to Vietnam fell by 30% in the first quarter compared to last year. Among the five major Southeast Asian markets, Vietnam experienced the steepest decline.

Counterpoint, a market research company, has reported that Malaysia experienced a negative growth rate of 29% year-on-year, ranking second to last. Thailand's shipments also decreased, but only by 1%.

Shipments to Southeast Asia's top five markets, Indonesia and Philippines included, fell by 13%.

Smartphone sales are increasing in Southeast Asia. The five main markets are seeing a rise. Counterpoint took a photo that shows this.

Glen Cardoza, an analyst at Counterpoint, says that Vietnamese consumers are not yet fully confident.

The decrease in demand for new phones in Southeast Asia is due to inflation. This has affected buyer sentiment, according to the source.

Another market research company reported that smartphone sales in Vietnam fell by 30% year-on-year, with only 2.5 million sold in the first two months.

A person from a phone store said that folks began to spend less in January.

Cardoza explained that the first quarter saw a decrease because many shipments arrived in Vietnam during the final quarter of the previous year.

Data from Counterpoint suggests that the high-end market has not been impacted by economic difficulties.

Samsung had the highest sales in Vietnam in the first quarter. They had 21% of the market. Oppo was second with 20%. Vivo had 14% and Xiaomi had 14%. Realme had 12% and Apple had 7%.

Last year, all brands declined except for Apple. Apple had a growth of 18%.