In Q1 2023, Vietnam’s smartphone market declined 30% YoY as reported by Counterpoint Research’s Vietnam Smartphone Channel Share. In the list, Samsung ranked first its market share was 30% ( fell by 32% year-on-year). Reportedly, the Samsung Galaxy A04 model is the best-selling model; in the price range of $200-400, Samsung occupies 7 of the top ten places, of which the Galaxy A14 5G is the best-selling model.
Senior Analyst Glen Cardoza said, “The demanding situation in the Vietnam smartphone market is unlikely to be resolved in Q2 2023. It will take some time for the smartphone market to recover in light of the difficulties that the economy has suffered. Vietnam, being one of the top global exporters of smartphones, will also look for the global economy to stabilize. When the situation starts to improve by the end of 2023, the market may benefit from the pent-up demand, especially in the lower-price segments.”
OPPO ranked second as it recently launched the A17 series in the fourth quarter of 2022, which has been very popular in the market. Apple achevied the third rank. The price of the iPhone 14 Pro Max was reduced by an average of 12% in the first quarter of 2023. Xiaomi and vivo faced a difficult Q1 2023, declining 46% YoY and 52% YoY, respectively.