Phone imports into Vietnam down 30%

According to a report released by market research firm Counterpoint Research (CR), phone sales in Southeast Asia in general decreased by 13% compared to the first quarter of 2022, of which Vietnam recorded a decrease of more than 30%, the highest among the surveyed countries including Indonesia, Thailand, Philippines, Vietnam and Malaysia.

Following Vietnam, the Malaysian market decreased by 29%, the Philippines by 10%, Indonesia by 7% and Thailand by 1%.

The data recorded by CR is factory sales (from the factory warehouse to the distribution system), not the number of units sold to end consumers. CR analyst Glen Cardoza commented: "Consumer sentiment has not fully recovered in Vietnam."

Apple is the only company with growing sales despite owning only 7% market share

In Southeast Asia, inflation in general has affected consumer sentiment, directly reducing demand for new phones. Another factor is that the first quarter of the year is usually quite gloomy because people who decide to replace their devices mostly choose to buy at the end of the previous year, a time to stimulate demand with many incentive programs and discounts.

Another report from research firm GfK shows that Vietnam's phone sales have not reached 2.5 million units sold in the first two months of 2023, down 30% compared to the same period in 2022 (reaching 3.5 million units).

Previously, a representative of a retail system confirmed that the Vietnamese phone market in general, and smartphones in particular, began an unusually gloomy business period that lasted from before Tet, while it usually only slowed down at the end of the first quarter and lasted into the second quarter.

The high-end phone segment is the least affected, while the mid-range and low-cost phone segment is being heavily impacted by the economic situation as customers in this segment are forced to tighten their spending. Samsung continues to be the phone company with the best sales, holding 21% of the market share, followed by Oppo (20%), Vivo (14%), Xiaomi (14%), Realme (12%) and Apple (7%).

In a generally gloomy market, Apple became a "bright spot" in Southeast Asia as well as in Vietnam, being the only brand with sales growth (18%). The remaining brands recorded decreases ranging from 5% to 26%.

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