The prices for most iPhone models increased by up to VND1 million; iPhones 11, 12 and 13 prices rose by 3-5 percent.

Distributors have announced price increases for other Apple products such as MacBook, Apple Watch, iPad and Apple accessories like Apple Pencil and keyboard.

Nguyen Lac Huy from Cellphone S retail chain said this had not happened for Apple products for many years, except for cases of active discounting before the launch of new products. iPhones, iPads and MacBooks are becoming more expensive because of recent VND/USD exchange rate fluctuations, Huy said.

In 2017-2018, when the USD price in the free market rose from VND22,300 to VND24,200 or VND24,500/$1, the prices of Apple products in Vietnam remained unchanged.

However, it is different now as the US FED has raised interest rates, while the State Bank of Vietnam has raised the trading band to 5 percent.  Analysts believe that the USD price will continue rising. 

Despite the price increases, retailers said their sales are good because demand for iPhones is always high.

Pham Tuan Anh from Shop Dunk retail chain said that new models such as iPhone 14 Pro Max 128GB and 256GB are sold like hot cakes in Vietnam. “The sources of supply cannot satisfy the over-high demand,” he said.

Officially distributed iPhone 14s have been on shelves in Vietnam since October 14. Unlike previous years, many Apple’s authorized resellers apply a policy which requests iPhone 14 buyers to activate the phones right at the stores.

The policy is applied to prevent speculation for reselling in the context of short supply of the new model. The successfully activated rate is an important factor for Apple to assess the capability of local sales agents. 

The sales went so well that on the launching day of iPhone 14, Cellphone S chain reported a revenue of VND200 billion. iPhone 14 Pro and iPhone 14 Pro Max accounted for 95 percent of the products on delivery.

Hai Dang