Vietnam’s smartphone market experienced some major shifts in Q3 as new players expanded their shares and penetration reached 51 per cent, Counterpoint Research announced.
Smartphone shipments in the country were flat in Q3 compared with the same period of 2016, but the overall handset market increased 17 per cent year-on-year, with feature phones still accounting for a sizeable market for OEMs to target.
Tarun Pathak, associate director at Counterpoint Research, said HMD Global (which produces Nokia brand devices under licence) and iTel, which entered Vietnam at the beginning of the year, quickly moved into the number four and five positions with 5 per cent and 4 per cent respective shares of the smartphone segment (see chart below, click to enlarge). Both captured share from local brands, which collectively fell to single digits (8 per cent) for the first time ever.
The top five brands accounted for almost four-fifths of smartphone shipments in Q3.
For the full year smartphone shipments are expected to grow 10 per cent.
Samsung led the smartphone segment with a 43 per cent share. Oppo was second, capturing 22 per cent of the market. Its best-selling mid-range model, the A37, accounted for nearly 60 per cent of its sales in the quarter. Vivo was third with a 5 per cent share.
The smartphone market in Vietnam is driven by the fast-growing $100 to $150 segment, which account for nearly a third of shipments. The premium segment ($400 and over) continues to do well, mainly driven by Samsung and Apple and a growing trend of paying for flagship devices on installment schemes at zero interest.
For HMD Global, the Nokia 3 was its best-selling device, while for iTel it was the S11 Plus.