In the 2nd quarter iPhone Sales more than doubled

In the 2nd quarter iPhone Sales more than doubled

News Summary:

  • Apple outperformed Xiaomi (13.2%) and Vivo (4.4%), but lagged behind Samsung (38.4% share) and Oppo (20.7%). According to the survey, Vietnamese consumers’ desire for high-end gadgets and price reductions on older iPhone models increased Apple’s sales, with two of its products becoming top sellers. According to Counterpoint analyst Akash Jatwala, “the premium pricing range (>US$400) rose by roughly 75% year over year, driven by the iPhone 11, iPhone 13 Pro Max, and Galaxy S series.”

  • The market share of iPhone in Vietnam climbed to 15.4% in the second quarter from 7.1% a year earlier, making it the third most popular product in the nation. It had the biggest year-over-year growth of all manufacturers, according to a report from Hong Kong-based Counterpoint Research. Sales increased to nearly 500,000 devices from 230,000 in Q2 2021. However, the total number of smartphones sold decreased by 0.9% to 3.2 million devices.

As offline sales remain the dominant channel in the industry, Apple also boosted the number of its stores through authorised distributors in Vietnam, aiding in the further expansion of its clientele. According to Apple CEO Tim Cook, one of the growing regions with “extremely high double-digit growth” that helped the company succeed in the second quarter of 2022 was Vietnam.

Apple was behind Samsung (38.4% share) and Oppo (20.7%), but surpassed Xiaomi (13.2%) and Vivo (4.4%). Vietnamese buyers’ preference for high-end devices and price cuts on older iPhone models drove Apple’s sales up, with two of its products being best-sellers, the report said. “The premium price band (>US$400) grew by around 75% year-on-year driven by the iPhone 11, iPhone 13 Pro Max and Galaxy S series,” Counterpoint analyst Akash Jatwala said.

CEO of the chain of smartphone retailers Hnam Mobile, Xa Que Nguyen, said: “Given that Apple is giving Vietnam greater attention, this is not shocking. The second quarter is typically a slow period, but Apple’s price reductions have boosted demand.” Since consumer choice may change to other necessities and demand may be impacted by macro difficulties, the Counterpoint research had “moderate expectations” for Vietnam.

iPhone increased its market share in Vietnam to 15.4% in the second quarter from 7.1% a year earlier to become the third largest seller in the country. Its year-on-year growth of 115% was the highest among all manufacturers, Hong Kong company Counterpoint Research said in a report. Sales from 230,000 devices in Q2/2021 to nearly 500,000. But overall smartphone sales fell by 0.9% to 3.2 million units.

Apple also increased the number of its stores in Vietnam via official distributors, helping further expand its customer reach as offline remains the key sales channel in the market. Vietnam is one of the emerging markets with “very strong double-digit growth” that have contributed to the company’s success in the second quarter of 2022, Apple CEO Tim Cook said recently.

Xa Que Nguyen, CEO of smartphone store chain Hnam Mobile, said: “This is not surprising as Apple is paying more attention to Vietnam. Second quarters are normally low seasons, but Apple’s price drops have stimulated demand.” The Counterpoint report had “moderate expectations” of Vietnam since demand could be affected by macro issues and consumer preference could shift to other essentials.

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