Vietnam Smartphone Market By Operating System (Android, iOS and Others (Windows, Blackberry, etc.)), By Display Technology (AMOLED, OLED, LCD, Others (FHD+, LCD+FHD, etc.)), By Distribution Channel, By Region, Competition Forecast & Opportunities, 2017-2027F

The Vietnam smartphone market is expected to register a CAGR of 7.48% during the forecast period, reaching around USD 7.54 billion by 2027 due to the trend of digitalization and increasing use of smart internet-connected devices. Moreover, increasing investment from big companies is further fueling the market growth of smartphones in the country. For instance, Samsung has invested around USD 3 billion for a smartphone plant in Vietnam.

Vietnam smartphone market is becoming saturated. Strong configuration, a good screen, and a good camera eventually became the norm for all smartphone models. Additionally, given the 5G network's quick expansion, it won't be long before this technology is available on all smartphone models.

With the introduction of the 5G network in Vietnam, consumers' buying preferences will shift towards products manufactured with 5G technology. These items will have guaranteed fundamental qualities like long battery life, outstanding performance, and affordable costs.

The Import-Export Report 2021, which was released by the Import-Export Department of the Ministry of Industry and Trade at the end of April 2022, states that data from the Industry and Trade Information Center indicates that Vietnam's import turnover of CBU (entirely built units) mobile phones reached USD3.16 billion, up to 70.8% from 2020.

iPhone imports saw the most significant growth, rising by 159% to 1.234 billion. Samsung phones came in second with USD 863.3 million, and Oppo came in third with USD 426.12 million. In Vietnam, where Xiaomi also saw also significant growth. Vivo, a different Chinese smartphone manufacturer with a USD 206.7 million import turnover, is ranked fifth on this list.

During the COVID-19 pandemic, many countries, including Vietnam, faced a decline in the sales of the smartphones. Even though the market's purchasing power was quite strong in October 2020, electronic businesses are nonetheless concerned because this was a temporary increase. The market's purchasing power eventually normalized after the abrupt rise. Due to consumers' reduced spending, companies' failure to introduce new products, and a shortage of goods in time-selling models, the business climate in November and the first few days of December was quite severe.

Increasing Use of “Made in Vietnam” Smartphone is Driving the Market Growth

Vietnam has become a desirable location for foreign direct investment due to growing availability of inexpensive labor in the country, welcoming business environment, and lower tax rates. As part of a broader push to Southeast Asia amid supply chain issues at home, Chinese smartphone maker Xiaomi Corp has received its first shipment of locally built devices in Vietnam.

Growing Investment from Industry Giants in the Industry is Fueling the Market Growth

Since Vietnam is an attractive market for big names in the smartphone industries like Samsung, Xiaomi, etc., for instance, in Vietnam, where it currently sources half its smartphone output, Samsung increased its investment. The company invested an additional USD 920 million, which will help the business continue producing smartphone camera modules and circuit boards. The Korean company has employed around 100,000 people in Vietnam and operates two factories, one in Thai Nguyen province and one in Bac Ninh province.

Before the pandemic, Xiaomi produced its smartphones only in China and India. However, constraints brought on by the disease interrupted the supply chain and decreased the company's sales, pushing it to expand to Vietnam.

Increase in Usage of Applications in Vietnam is Driving the Market Growth

Vietnam has a more advantageous distribution of apps than the rest of the world, with 170% more downloads per app. This increase draws many firms to reach out to people with advertising efforts.

The popular app categories include texting, social networks, and movie apps. Additionally, consumers spend most of their time on Facebook and YouTube, which take up 25% and 12% of their mobile phone usage. Additionally, Zalo, which accounts for 6-7% of usage time, has surpassed Facebook Messenger to become the most widely used messaging service. Additionally, other applications are as well-liked by users, including Skype, Viber, and WeChat. Further, Tiktok has exceeded Instagram and accounts for 4% of usage in 2020, showing its success in the Vietnamese market.

Market Segmentation

The Vietnam Smartphone market is segmented based on operating system, display technology, distribution channel, region, and competitional landscape. Based on operating system, the market is further segmented into android, iOS, and others. The display technology is further segmented into AMOLED, LCD, OLED, and others. The distribution channel is segmented into multi-brand stores, exclusive stores, online and others.

Company Profiles

Samsung Vina Electronics Co Ltd, Guangdong OPPO Mobile Telecommunications Corp Ltd, Xiaomi Corp, Apple Inc, Vivo Communication Technology Co Ltd, Huawei Technologies Vietnam Co Ltd, LG Electronics Vietnam Co Ltd, Microsoft Corp, Sony Electronics Vietnam Ltd and HTC Corp are some of the leading market players in the Vietnam Smartphone market. New market players are also actively entering the market in the recent years and further strengthening the market growth.

Report Scope:

In this report, Vietnam Smartphone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Vietnam Smartphone Market, By Operating System:

• Android
• iOS
• Others

Vietnam Smartphone Market, By Display Technology:

• AMOLED
• OLED
• LCD
• Others

Vietnam Smartphone Market, By Distribution Channel:

• Multi-Brand Stores
• Exclusive Stores
• Online
• Others

Vietnam Smartphone Market, By Region:

• Northern Vietnam
• Southern Vietnam
• Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam Smartphone market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.