Vietnam's 2022 smartphone shipments fall to 2015 levels

By VNA   February 26, 2023 | 06:18 pm PT
Vietnam's 2022 smartphone shipments fall to 2015 levels
A person takes a picture with a smartphone. Photo by VnExpress/Minh Huy
Vietnam’s smartphone market saw a dip in shipments by 15.6% in 2022, according to the International Data Corporation's Worldwide Quarterly Mobile Phone Tracker.

Despite the slight improvement in volume to 13.4 million units, this figure is still comparable to the 2015 market when it was still in a growing phase.

In the last quarter of 2022, the market took a sharp downturn, with a 50.3% drop year over year to 2.6 million units, the lowest figure recorded since the third quarter of 2021, when the industry grappled with supply chain disruptions due to the Covid-19 pandemic.

Consumer demand weakened considerably, exacerbated by high inflation and economic uncertainties. The underwhelming figures come as a surprise as the fourth quarter of the year is typically a robust period for the market.

"The rising cost of living and growing macro-economic concerns resulted in significantly low consumer demand, dampening any rebound in 2022 when Vietnam re-opened," said Thanh Vo, Research Analyst for Client Devices at IDC Vietnam. "This has led to a cautious start in 2023 as vendors rethink their portfolio of devices amidst profitability concerns."

Samsung's share increased to 40.4% in Q4 of 2022 from 34% in Q3.

OPPO kept its second position with a 21.3% share by units in the last quarter of 2022, despite a slight 0.3 percentage point drop quarter over quarter. Its shipments declined for the second straight quarter with a 21% and a 38.9% year-over-year drop.

Apple was a bright spot as its shipments increased 42.7% quarter over quarter in the fourth quarter of 2022. The new iPhone 14 series drove the growth of Apple in Vietnam despite production issues. Apple's overall shipments grew 23.6% year-on-year for 2022, broadly outperforming the market downturn.

Vivo faced a steeper shipment drop of 80.7% year-on-year and 49.5% quarter over quarter in Q4, resulting in a more cautious approach and supporting sales by offering discounts and/or other activities. Vivo finished in the last quarter of 2022 with a 6.3% share, a decline from a 9.9% share in the previous quarter.

Xiaomi's shipments dropped down to 138,000 units in Q4, a decline of 74.8% year-on-year and 71.0% quarter over quarter as its share declined to 5.4% from 14.9% in the previous quarter.

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