The consumption of low- and mid-end smartphones has dropped by 50 percent compared with the same period last year, causing difficulties in cash flow for retailers.

As there is a shortage of iPhone 14 models, many people have decided to buy older-generation iPhones.

The price for iPhone products in Vietnam increased over the past week after the rise of the VND/USD exchange rate (over VND24,800/US$1), even for old models.

Cellphone S, FPT Shop, Shop Dunk and Di Dong Viet are rushing to open new stores in the year-end sale season.

BKAV Electronics, a subsidiary of BKAV, will stop operation and merge with the holding company. However, BKAV said this won’t affect the group’s plan to develop smartphones.

Vietnam will soon have another home-grown manufacturer entering the highly competitive smartphone marke.

According to data from the Ministry of Information and Communications, the number of mobile subscribers in 2021 is estimated at 123.76 million, including 92.88 million smartphone subscribers, accounting for about 75%.

The three products are priced between VND4.5 million and VND6.5 million, affordable for most consumers.

Two months after hitting the domestic market, iPhone 13 smartphones hand carried from Singapore and Hong Kong have seen prices drop dramatically by VND10 million, while officially distributed Apple phone products have fallen by VND5 million.

The price for iPhone 13 will be from 24.99 million VND ($1,085), iPhone 13 Pro from 30.99 million VND ($1,345).

Some retail systems have allowed customers to place orders for iPhone 13, although the model has not been officially launched.

Under the impact of the regulation to stop importing 2G and 3G phones from July 1, 2021, the number of 2G feature phones is anticipated to decrease by 70% by 2022.

According to a survey by Statista, about 61.3 million smartphones are in use in Vietnam. The country is among the top 10 countries with the highest number of smartphones.

Business reports for the first four months of 2021 of Mobile World (MWG), the leading retail chain of technology products in Vietnam, clearly showed the impact of the pandemic on customer demand.

In 2020, Vietnamese spent 25% of their time on smartphones surfing Facebook and 12% of their time watching YouTube.

Mobiistar, Vsmart and Bphone in recent years have been trying to enter the world market, but their stories and results have varied.

Xiaomi Vietnam has not issued a comment on the news reported by some local press agencies that it is building an assembly factory in Vietnam.

Vietnam’s dollar billionaire Pham Nhat Vuong did not succeed with his plan to take over LG’s smartphone production division in Vietnam and Brazil, but has taken new moves in the US market.

Vietnam is clearly a market with great potential for Apple. Even the next-generation models with high prices such as iPhone 12 are selling well.