Vietnam’s Apple Shipments More Than Doubled in Q2 2022

Vietnamese consumers are trending to favor luxury smartphones such as Apple, which had the largest increase among smartphone manufacturers during the quarter, growing by 115% on-year, according to Counterpoint's most recent monthly Vietnam smartphone channel share tracker.

Research analyst Akash Jatwala said, “The premium price band (over $400) grew around 75 per cent on-year, driven by the iPhone 11, iPhone 13 Pro Max, and Galaxy S series. Vietnam’s people are passionate about premium smartphones. Besides this, 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.”

Samsung struggled with supplies and had to reduce output at its Vietnam facility, so its growth was almost flat at 3% year over year. With the introduction of the A and M series, Samsung was able to maintain its market share. During the quarter, its premium S series models were among the best-selling items.

OPPO was the only Chinese competitor to have positive year-over-year growth of 25%, due to the success of its recently released mid-range models in the market. By contrast, Xiaomi, Vivo, and Realme had a fall in shipments as a result of greater inventories.

While Apple's partner Foxconn has extended the brand's product range in Vietnam by producing AirPods and iPads at its factory in the northern province of Bac Giang, Xiaomi has begun producing smartphones in the country in collaboration with DBG Technology.

"For the second half of 2022, we have moderate expectations for the Vietnamese smartphone market. Manufacturing activities may feel the impact of raw material price increases due to global inflationary pressures, with consumer preference shifting to other essentials. We expect the local demand to revive during the last quarter, driven by the Lunar New Year consumer spending and Apple’s new iPhone launch," Jatwala said.

Source: VIR