By 2022, Vietnam’s export share reached 12 percent on the global smartphone market.
By 2022, Vietnam’s export share reached 12 percent on the global smartphone market, while India, a rival of Vietnam in this market, ranked seventh with a little over 2.5 percent 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 percent compared to December 2023 and an increase of 11.4 percent yearly.
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 percent of the exports. Second was China with about $734 million, accounting for 13 percent, 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 percent of the total national export value. Still, this group of electronic products gained an annual average growth rate of 34 percent in export value from 2011 through 2021.
In 2023, overseas shipments of phones and accessories totaled $52.3 billion, down 9.7 percent compared to 2022. Phones and accessories ranked second in export value, after computers, electronics, and components.
According to an HSBC report, Vietnam held 13 percent of the global smartphone market share in 2021, being the second-largest smartphone exporter in the world.
Vietnam is now an attractive destination for big global phone and component industry firms, including Apple. At present, about 25 suppliers of Apple locate their factories in Vietnam, vtv.vn reported.
(VNS)