Vietnam consistently maintains its position as the second largest exporter of smartphones on the planet. By 2022Vietnam’s share in smartphone exports was achieved 12% world market, while their competitor India secured seventh place with a modest export share of just over 2.5%12. Especially, China it continued to dominate the market by exporting half smartphones on the planet in the identical 12 months.
Other significant players on the export market include: Hong Kong, United Arab Emirates, Czech Republic, USA, and Republic of Korea.
In January, Vietnam’s exports of phones and components exceeded $5.5 billionwhich is extraordinary 50.4% increase in comparison with December 2023 and an 11.4% year-on-year growth1. The US AND China have change into the biggest customers of Vietnamese phones and components. In particular, Vietnam’s exports to the US amounted to $1.39 billionconstituting 25% total exports. China followed closely behind with approx $734 million (13%), and the Republic of Korea got here in third place $330 million.
Interestingly, in 2010 the share was only phone components 3.2% the overall value of Vietnam’s domestic exports. However, the category has seen significant growth, with a mean annual growth rate of 34% in the worth of exports from 2011 to 2021.
Despite 9.7% decrease within the variety of foreign shipments of phones and accessories in 2023the sector continued to rank second by way of export value, trailing only behind computers, electronics and components1. Moreover, an HSBC report revealed that in 2021Vietnam held 13% share of the worldwide smartphone market, strengthening its position because the second largest smartphone exporter on the planet.
Vietnam has also change into a sexy destination for major players in the worldwide phone and component industry, including: Apple. Currently approx 25 Apple suppliers they arrange factories in Vietnam, it says vtv.vn.
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