Half of iPhones in Vietnam are sold through Mobile World

TopZone store next to TGDĐ supermarket in Ho Chi Minh City.

In the first 6 months business results report of Mobile World Investment Corporation (MWG), Apple products, especially the iPhone, were mentioned. The unit said that the TopZone chain is a strategic link with the American mobile company, bringing Vietnam closer to “tier 1”. In which, group 1 is mentioned only in the way the company classifies the business market.

“With Apple products, Mobile World accounts for 50%. In the first 6 months of the year, Apple’s revenue growth in the system was about 60% compared to the same period last year,” said Mr. Vu Dang Linh, CEO of MWG. The figure given by this unit includes the number of devices sold from the 3 chains TopZone, Mobile World and Dien May Xanh.

This is also the general rate of the whole industry, with the number of points of sale surpassing its competitors, Mobile World holds an average of about 50% of the mobile product lines they do business in Vietnam.

In 2021, when opening the TopZone chain, Mobile World said they held about 40% of the Apple product market share in Vietnam. The unit expected to increase this number to 50% when developing the Apple mono-store system.

After 4 years, Mobile World took another 10% of Apple's market share in Vietnam. Photo: Phuong Lam.

After 4 years, The Gioi Di Dong's Apple chain has 85 stores. This is still the most widespread mono-store in Vietnam at present. Competitors such as ShopDunk or F.Studio ofFPT Shop have not opened many more in recent years.

The Gioi Di Dong's growth also coincided with the period when Apple was developing strongly in Vietnam. The company's revenue increased to 3 digits at times. Apple's market share is currently at 18-20% depending on the quarter, among the top 3 best-selling manufacturers. The strategy of localization, extending the life cycle of old iPhones and reducing prices contributed greatly to the company's success.

In its business report, MWG said that the two mobile and electronics chains brought in nearly VND50,000 billion , contributing 67.1% of the group's total revenue. Of which, Dien May Xanh accounted for 44.6% and The Gioi Di Dong (including TopZone) reached 22.5%.

Currently expanding to household appliances, fast-moving consumer goods, and pharmacies, however, the phone and accessories industry still accounts for the largest proportion at MWG, more than 35%. Coming next is consumer electronics, with 28%. Air conditioning is the most dismal segment when the weather is not favorable.

In the second half of the year, the new iPhone launch program is an opportunity for domestic retailers to increase revenue. According to sources of Tri Thuc - Znews , Apple released the phone for the first time in Vietnam, at the same time in the US. Thus, domestic customers can buy iPhone early, without having to wait like in previous years.

Source: https://znews.vn/mot-nua-iphone-o-viet-nam-duoc-ban-qua-the-gioi-di-dong-post1578757.html