Who’s the leader in Vietnam’s smartphone market?

Vietnam’s smartphone market is becoming a key focus in Southeast Asia, especially as 5G deployment accelerates, driving opportunities in the mid-range and premium segments. OPPO, which leads the regional market with a 21 percent share, has found particular success in Vietnam by offering strong 4G models in the US$175 to US$250 range.

vietnam smartphone market Q3 2024
vietnam smartphone market Q3 2024

With the country’s 5G infrastructure developing through a joint effort between network providers and government support, affordable 5G devices are expected to become more accessible, shifting demand in the mid-range segment. Samsung, with its strong telco relationships, is well-positioned to benefit from this shift as an early leader in 5G.

Top brands in the smartphone market in Vietnam are Samsung, Oppo, Apple, Xiaomi, and Realme in Q3 2024, Canalys said.

Samsung is the smartphone market leader in Vietnam with 26 percent share in Q3 2024 vs 32 percent in Q4 2023.

Oppo has 23 percent share in the smartphone market in Vietnam in Q3 2024 vs 16 percent in Q4 2023.

Apple has 18 percent share in the smartphone market in Vietnam in Q3 2024 vs 21 percent in Q4 2023.

Xiaomi has 18 percent share in the smartphone market in Vietnam in Q3 2024 vs 18 percent in Q4 2023.

Realme has 8 percent share in the smartphone market in Vietnam in Q3 2024 vs 4 percent in Q4 2023.

Vietnam’s market faces the challenge of a 4 percent decline in regional ASP due to intense competition and an oversupply of devices in the US$100-$300 segment. Vendors are increasingly reliant on promotions and discounts, leading to a “price war” that challenges profitability.

To counter this, OPPO and Samsung are simplifying their entry-level portfolios, reducing price conflicts between old and new models. OPPO’s strategy of offering a single entry-level model, for example, has boosted volume by minimizing overlaps.

Looking forward, the rise of 5G in Vietnam represents a major opportunity for brands to redefine their product offerings. Vietnam’s mid-range 5G market is expected to thrive as infrastructure improves, attracting global brands with competitive models that are affordable yet 5G-capable. Xiaomi’s recent success in Malaysia, where it expanded telco partnerships to increase affordability for its premium series, could be a model for similar growth in Vietnam.

Additionally, premium brands like Apple have seen strong growth in Southeast Asia, which is expected to influence demand for high-end devices in Vietnam. Apple’s store expansion across the region has showcased the rising demand for premium experiences, a trend Samsung and OPPO are also following by establishing premium experience stores. As the market matures, Vietnam stands out as an essential market for premium brands that can adapt to local 5G and consumer demands.

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