Despite the declining market, the iPhone consumption in Vietnam remains at a good level.
The latest report from market research company Counterpoint Research reveals that smartphone sales in five Southeast Asian countries (Indonesia, Thailand, Philippines, Vietnam, and Malaysia) have decreased by an average of 13% compared to the same period last year. Among them, Vietnam witnessed the sharpest decline, with approximately 30% drop compared to the first quarter of 2022. Malaysia followed with a 29% decrease, Philippines with a 10% decrease, Indonesia with a 7% decrease, and Thailand with a 1% decrease.
Experts at Counterpoint Research attribute this situation to the low demand in the market and the seasonal decline.
According to Counterpoint Research, the Vietnamese market received a large quantity of smartphones in the fourth quarter of 2022. Therefore, manufacturers need to reduce production in the first quarter of 2023 to align with the market.
“Vietnam is a market where the iPhone is experiencing strong growth. The demand for products like the iPhone 13 and iPhone 14 remains high in the first quarter of 2023,” the report states.
Recently, on May 18th, Apple Store online officially launched in Vietnam. Here, the company offers a full range of products including iPhone, iPad, MacBook, Apple Watch, AirPods, and AppleCare+ program.
This move demonstrates Apple’s increasing interest in the Vietnamese market. It also serves as clear evidence of the long-term growth and development potential that Apple has thoroughly analyzed and evaluated.
Not only in Vietnam, but Indonesia also witnessed an increase in iPhone sales. In the first quarter of 2023, iPhone sales in the five Southeast Asian countries increased by 18% compared to the same period in 2022.
Apple is the only brand experiencing strong growth during this period. In contrast to Apple, Android smartphone brands have seen declines with Vivo (26%), Samsung (16%), Xiaomi (13%), Oppo (10%), and Realme (5%).
The report further indicates that the mid-to-high-end smartphone segment (200 – 600 USD) is facing the heaviest impact. Meanwhile, the high-end segment (above 600 USD) continues to grow by 4% compared to the same period last year.
“The budget smartphone segment is recovering but has not met expectations. Customers in the mid-range segment are tightening their expenses and limiting purchases,” Glen Cardoza, a senior analyst at Counterpoint Research told Vietnam Insider.
Cardoza also added that users in the high-end segment are hardly affected by the economic situation. This customer group typically chooses products from the Galaxy S series, foldable smartphones, or iPhones.”