Electronics, appliance sales surge to US$1.3 billion

Vietnamese consumers spending on electronic products and appliances reached US$1.3 billion, a 20.9% increase, in the third quarter of 2014.

Most of the products purchased were mobile phones and earphones, which brought in sales of more than US$561 million, a 28% year on year rise. 

Information and technology (IT) products ranked second with total sales of US$262 million. 

Significant growth was also seen in total sales of three major domestic appliances: refrigerators at 15.6%, washing machines at 15.5% and microwave ovens at 12.8%. 

However, sales of laptop computers declined, even as sales of tablet devices doubled with the exception of the Apple iPad and iPad mini, which ironically experienced a sales decline in the world market following the release of Apple’s iPhone 6. 

GFK, one of the world’s largest research companies, predicted Vietnam’s technology and electronics market to continue growing in the last quarter of the year. 

The company predicted bestselling products to include the LED TV, smart phones and tablet devices, as producers and retailers are expected to offer promotional and sales programmes for these products during the year-end months to stimulate consumer spending. 

Sales of washing machines, refrigerators and laptops are likewise expected to grow but at a low rate.