2014-02-19 07:11:43 - What is the future outlook of Vietnam's emerging smartphone market?
Vietnam’s smartphone market is being buoyed by an expanding middle-class, and aggressive moves by Chinese manufacturers vying for market share. Spire Research and Consulting was invited to share its insights on the growing smartphone market in The Saigon Times Daily.
The rising middle-class and increasing tech-savviness amongst consumers have energized Vietnam’s smartphone market. It is estimated that there would be 20 million Vietnamese smartphone users by 2014; with one out of every four people using a smartphone. It is no surprise that many international smartphone players are eyeing the Vietnamese market.
The increasingly popular mid-range smartphones (priced between USD251 and USD400) are seeing intense competition. Bottom-line prices are being determined by new players, especially brands from China. Currently, Samsung is the leading
brand with a market share of 40%, with Nokia trailing behind at 25%.
However, Chinese smartphone brands are fast catching up with aggressive marketing strategies. Brands such as Lenovo, Huawei, OPPO, ZTE, Xiaomi, Haier have penetrated Vietnam’s low to mid-range smartphone segment by adding features like social media applications, camera and video recording as well as mobile browsers.
In spite of the intense competition, opportunities are abundant. Many global brands are partnering with local companies such as ICT distributors and telecommunications carriers to sell their products. For instance, China’s Haier Group struck a partnership with telco giant Viettel in early October to push its mid-range smartphones to Vietnamese consumers.