22 May 2024

There are 8 countries and territories supplying phones to Vietnam, of which China, Korea and Hong Kong are the 3 largest markets.

According to preliminary statistics from the General Department of Customs, Vietnam's import of phones and components in April reached a turnover of 789.72 million USD, decreased slightly by 1% compared to March 2024.

Thus, by the end of April 2024, the import turnover of this product achieved more than 3.079 billion USD, a sharp increase of 22.4% over the same period last year, making it the product category with the 5th highest export turnover among imported goods of Vietnam.

In terms of markets, there are 8 countries and territories supplying phones and components to Vietnam, of which China, Korea and Hong Kong are the 3 largest markets.

Vietnam, China and Hong Kong are the three largest phone supply markets for Vietnam

Specifically, China took the lead role in turnover with more than 2.66 billion USD, a sharp increase of 25% over the same period in 2023. Korea is the second largest market with more than 134.5 million USD in 4 months, however decreased by 21% over the same period last year. Notably, the Hong Kong market recorded a growth rate of 275%, equivalent to 3.75 times compared to the same period last year, reaching more than 25.3 million USD.

Besides the three main markets mentioned above, suppliers of phones and components to Vietnam also include India, England, Taiwan, America, and Japan.

On the export side, in the first 4 months of the 2024, phones and components brought more than 18.1 billion USD in turnover to our country, up to 5% over the same period last year, with the second large turnover category, only behind electronic products and components.

In the world market, Vietnam is the second largest smartphone exporter after China. Specifically, before 2010, India and Vietnam both had smartphone export market shares of less than 1%, however, since 2022, Vietnam's market share increased to 12%, while India ranks 7th with a market share of more than 2.5%.

China is the dominant country in smartphone export in the world. According to statistics, this country accounts for nearly half of the global market share. However, in 2022, the country's smartphone export volume had decreased to its lowest level in 10 years due to the impact of the Covid-19 epidemic and slowing demand.

Ranked third in export position is Hong Kong. Thanks to its strategic location, good commercial infrastructure and business-friendly environment, Hong Kong is considered an important gateway for smartphone manufacturers looking to access international markets. Currently, this region accounts for 9.6% of the world's smartphone export market share.

It is expected that in 2024, smartphone sales in Vietnam will reach 21.4 million units. Since the beginning of the year, a number of launched phone models have received positive welcomes such as Samsung Galaxy S24 Series, Honor X9b 5G or Xiaomi Redmi 12 Series...

Source: Cong Thuong