May 20, 2024 | 09:00 GMT+7

Trade turnover from phones and components increases in 4M

Quynh Anh

Vietnam’s smartphone market is forecast to reach $4 billion this year.

According to initial figures from the General Department of Vietnam Customs, value of imported phones and accessories in April stood at $789.72 million, down 1% month-on-month, bringing the total value in the first 4 months of this year to more than $3 billion, a year-on-year increase of 22.4%, thus ranking fifth, in terms of value, among Vietnam’s imported items in the period.

Among the markets from which Vietnam has imported phones and accessories, China, South Korea and Hong Kong (China) are the largest in terms of value, with $2.66 billion, $134.5 million, and $25.3 million, respectively.

Meanwhile, value from exported phones and accessories in the first 4 months of this year stood at $18.1 billion, a year-on-year increase of 5%, ranking 2nd in terms of value, after the group of computers, electronic products and accessories.

Vietnam has become the 2nd largest exporter of smartphones of the world, after China, since 2022, accounting for 12% of the world market.

According a forecast from Statista, Vietnam smartphone market will reach $4 billion in 2024, with an average annual increase of 1.45% in the period between 2024-2028.

It has been estimated that about 21.4 million smartphones will be sold this year in the country.


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