Vietnam remains world's second largest smartphone exporter
By 2022, Vietnam’s export share reached 12 % of the global smartphone market, while India, a rival of Vietnam in this market, ranked seventh with a little over 2.5 % export share, thehindu.com reported.
China continued to form the lion’s share by exporting half of the world’s smartphones in 2022.
Hong Kong, UAE, the Czech Republic, the US and South Korea are other major players in the export market.
According to the General Department of Customs, Vietnam's export value of all types of phones and components in January reached more than US$5.5 billion, an increase of more than 50.4 % compared to December 2023 and an increase of 11.4 % year on year.
The US and China became the largest customers of Vietnamese phones and components.
In January, Vietnam's exports to the US reached $1.39 billion, accounting for 25 per cent of the exports. Second was China with about $734 million, accounting for 13 %, and third was South Korea with $330 million.
The General Department of Customs' statistics also showed that in 2010, the export turnover of phone components and components only accounted for 3.2 % of total national export value, but this group of electronic products gained an annual average growth rate of 34 % in export value from 2011 to 2021.
In 2023, overseas shipments of phones and accessories totalled $52.3 billion, down 9.7 % compared to 2022. Phones and accessories ranked second in export value, after computers, electronics and components.
According to an HSBC report, Vietnam held 13 % of the global smartphone market share in 2021, being the second-largest smartphone exporter in the world.
Viet Nam now is also an attractive destination for big firms in the global phone and component industry, including Apple. At present, about 25 suppliers of Apple located their factories in Vietnam, vtv.vn reported.
