Vsmart grabs 16.7 percent of Vietnamese smartphone market share

Vsmart phones now account for 16.7 percent of the Vietnamese smartphone market just 15 months since they were launched by VinSmart, a subsidiary of conglomerate VinGroup.

13, Apr. 2020

Photo by Robson Hatsukami Morgan on Unsplash
Photo by Robson Hatsukami Morgan on Unsplash

HANOI, VNS/VNA - Vsmart phones now account for 16.7 percent of the Vietnamese smartphone market just 15 months since they were launched by VinSmart, a subsidiary of conglomerate VinGroup.

The company is now among three with a domestic market share of over 15 percent.

The information was published by global market research firm GfK.

GfK noted that Vsmart smartphones dominated the popular phone segment, priced from 1-3 million VND (42-127 USD).

The Vsmart Joy 3 phone achieved breakthrough growth with record sales of 12,000 phones within the first 14 hours of its launch.

The Vsmart Joy 3 (2GB and 3GB RAM versions) was in the top three best selling products in the 2-3 million VND segment at the end of last year, accounting for 13.3 percent of market share.

Vsmart products have some of the best features in their price range. Strong performance, camera, battery capacity and fast charging are outstanding in the segment, and VinSmart also offers a wide range of customer services.

Tran Minh Trung, deputy general director of VinSmart Research and Manufacture JSC, said that with market share growth of 260 percent from the beginning of this year and 16.7 percent of the smartphone market share after only 15 months, VinSmart was heading in the right direction.

“Our goal is to continue optimising our products to improve quality while catching up with new trends faster along with more competitive prices so that Vietnamese phones not only meet the domestic market but also reach the world market.”

VinSmart has launched 12 phones and five smart TVs and expanded its market to Myanmar and Russia.

VinSmart inaugurated the first phase of its electronic equipment factory in the Hoa Lac Hi-tech Park in November last year.

The factory covers an area of nearly 14.8 hectares and has a total capacity of 125 million devices per year. - VNA