Vietnam's Smartphone Exports Hit Record Low

Blog post written on May 22, 2023 at 03:25 pm PT by Luu Quy.

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

A report says that Vietnam had the biggest drop in smartphone shipments. The shipments fell 30% in the first quarter of the year. This is compared to the past year.

Counterpoint found that Malaysia had the second-worst decline, falling 29% compared to the previous year. Meanwhile, Thailand had a 1% decrease in their shipments.

Indonesia and the Philippines, among other Southeast Asian markets, had less shipments by 13% overall.

Smartphone sales are the topic of this blog section. Five Southeast Asian markets are the focus. Photos from Counterpoint are used.

According to Glen Cardoza, an analyst at Counterpoint, people's confidence in Vietnam's economy has not fully returned.

New phone demand decreased due to buyer sentiment affected by inflation in Southeast Asia.

A different research company found out that 2.5 million smartphones were sold in Vietnam in the last 2 months. Sadly, this number is 30% lower than the previous year.

A spokesperson of a smartphone retail store said that individuals have become cautious about their spending since January.

Cardoza stated the first quarter had a decline because Vietnam got many shipments in the previous quarter.

Counterpoint data indicates the upscale market has remained unaffected by economic issues.

Samsung sold the most in Vietnam during the first quarter. They had 21% of the market. Oppo came in second with 20%. Vivo had 14%, Xiaomi had 14%, Realme had 12%, and Apple had 7%.

All brands saw a drop, except for Apple. Apple had an increase of 18%. This is compared to the same time last year.