Vsmart phones now account for 16.7% of the Vietnamese smartphone market just 15 months since they were launched by VinSmart, a subsidiary of conglomerate VinGroup.
Phones made by local manufacturer Vsmart have surpassed those of US giant Apple, in terms of retail revenue in the Vietnamese market in January.
The recent development of industrial areas, international standard schools, and hospitals in Vietnam has also raised the need for industrial catering, which creates a potential market for the distribution and production of industrial-grade kitchen equipment.
A representative of the Realme smartphone brand on September 24 announced a plan to penetrate the Vietnam market with the launch of at least two products in October.
Driven by market demand and Vietnam's policies, a number of foreign investors are planning to invest in Hoa Lac High-tech Park (HHTP).
The average price of smartphones sold in Vietnam is VND5 million, higher than last year’s price of VND4.2 million.
Low-cost mobile phones, priced below VND2 million, are no longer selling well in Vietnam.
Hi-tech products, which are frequently updated and offer new features, remain in high demand, generating big profits.
Half of all internet users in the Asia Pacific region purchased at least one consumer electronics product online in the past year, with Vietnam one of the region’s strongest drivers of consumer electronic sales, a recent study by GfK has revealed.
Vietnamese electronics retailers expect growth and expansion in 2016, as the country continues to present ample opportunities.
Vietnamese consumers spent well over half a billion US dollars on smartphones in the first quarter of this year, data from a market tracker shows.
Vietnamese consumers spending on electronic products and appliances reached US$1.3 billion, a 20.9% increase, in the third quarter of 2014.