Vietnam’s growing middle class and the increase in disposable income of its population, among other factors, have contributed to the growth in spending on various goods and services, including consumer electronics. Nowadays, several consumer electronics devices have even become essential in the daily life of Vietnamese people, such as smartphones, tablets, and smart home entertainment devices . As the ownership rate of these devices rises, so does the revenue of the consumer electronics segment in Vietnam .

Consumer electronics and Vietnam’s development story

Since the country’s economic reform in 1980, Vietnam has successfully oriented itself to be a manufacturing-based, export-oriented economy in recent years. Consumer electronics played an important role in Vietnam’s economic development. Around a third of the total exports in Vietnam came from consumer electronics, with the main export categories being phones and phone parts as well as computers and related accessories.

Thanks to its strategic location, stable politics, and low-cost labor, Vietnam has seen a gradual increase in manufacturing outsource partners or in-house production facilities of some of the biggest names in consumer electronics and technologies, including Samsung and Apple. According to a recent estimation, over 50 percent of Samsung’s mobile phones came from its factories in Vietnam, which employed more than 110,000 workers as of 2021 . Meanwhile, Apple decided to move its AirPods production partially from China to Vietnam in the middle of 2020, in the wake of the US-China trade war. Furthermore, Samsung plans to integrate its Vietnamese facilities even more extensively in its global supply chain with a new research and development center opening in 2022, while Apple’s supplier, Foxconn, is currently building its subsidiary in the country.

Connected consumers, connected devices

Besides producing and supplying consumer electronics to the world, it has a thriving domestic market for the consumption of these products. The country has one of the highest numbers of internet users worldwide , and connected electronics devices are the gateways for Vietnamese consumers to the online world. Parallel to heavy internet consumption is the high penetration rate of digital devices , including smartphones, tablets, and computers. The COVID-19 pandemic has also intensified internet use and activities that used to be carried out offline, such as learning, working, shopping, or spending leisure time, now take place online more often thanks to these digital devices. In line with global trends, the integration of digital devices in daily life is forecast to be the new normal in Vietnam.


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