According to Counterpoint Researcher’s Monthly Vietnam Channel Share Tracker for the second quarter of 2022, Apple’s iPhone saw the biggest growth with Vietnamese people interested in purchasing premium smartphones.
Apple’s Vietnamese iPhone shipments saw a year-over-year increase of 115% in the last quarter
According to Counterpoint Research, high-end smartphone shipments along with gaming-focused ones saw significant growth in the last quarter. The premium segment, which includes smartphones which a price tag of over $400, saw a growth of 75% compared to the same time last year.
During this period, Apple saw the most growth. To sustain that growth, the Cupertino tech giant is increasing its stores in Vietnam via official distributors to make the process of purchasing its products more seamless for interested consumers in the region.
Vietnam’s smartphone market is dominated by offline channels. Therefore, OEMs are opening more retail stores across the country. Major Vietnamese distributors are opening mono-stores of major brands, which are driving most of the sales, with Samsung and Apple leading the chart.
Apple’s growth has been attributed to the iPhone 11 and iPhone 13 Pro Max. In addition, the firm’s research analyst Akash Jatwala says, “Apple has recently reduced the prices of older iPhone models in Vietnam, making them among the cheapest in the world. Vietnam is becoming one of the major markets for Apple in Southeast Asia.”
As for other companies, Samsung’s growth was flat at 3% year-over-year as it had to cut production at its Vietnam factory. During this period, the South Korean company launch low and mid-end devices in its A and M series which helped its market share. However, its S series models performed the best in the last quarter.
Oppo also saw impressive growth of 25% year-over-year with its budget smartphones. On the other hand, Xiaomi, Vivo, and Realme saw a decline in their shipments and growth due to higher inventories.
Apple is expected to continue seeing strong growth in Vietnam in the third quarter of 2022 as its upcoming flagship iPhone 14 lineup is set to be announced at the “Far Out” event on September 7.
In related news, Apple supplier Foxconn is planning on spending $300 million to expand its production facilities in Vietnam to boost and diversify its production in the region. Apple is also planning to produce MacBooks in the region alongside the existing production of HomePod, AirPods, iPads, Apple Watch, and iPhones.