The competition in the mid-end smartphone market segment is the most cutthroat, with the Galaxy A50 the trump card for Samsung to beat rivals. According to GfK, a market analysis firm, the smartphones priced at VND5-10 million accounted for 34 percent of the total smartphone market share in 2017. The figure soared to 51 percent in the first eight months of 2018. In 2018 alone, no fewer than 30 new smartphone mid-end models were launched into the market, a very high number compared with low-cost or high-end models launched. It is estimated that three models of the segment hit the market each month, while there were only 6-8 manufacturers. Previously, analysts assessed smartphone manufacturers’ technology capability via the sales of their flagships. Today, the sales competition is stiff in the midrange market segment. At present, the high-end market segment is being controlled by the two giants, while other manufacturers cannot find opportunities to squeeze in. … [Read more...] about Mid-tier smartphone competition heats up
Consumer credit has grown by five times in the last five years, according to the State Bank of Vietnam. The Financial Times newspaper noted that Vietnam’s consumer lending field remains ‘young’. Vietnam has great potential to develop the field thanks to the young population (70 percent of people are 15-64 years old) and the high economic growth rate (over 6 percent). It's easy to access consumer loans In late 2012, total consumer loans were VND230 trillion, accounting for 8 percent of total outstanding loans of the economy. By late 2017, the figure had reached VND1,100 trillion, or 4.8 times higher than 2012, accounting for 18 percent of total outstanding loans. As of December 31, 2018, the total assets of finance and finance leasing companies had reached VND167.822 trillion, up by 18.27 percent over the end of 2017, while their chartered capital had increased by 17.2 percent and regulatory capital by 39.4 percent. The consumer lending market includes … [Read more...] about Consumer credit: risks loom large
In November alone, Da Lat resort city in the Central Highlands province of Lam Dong, welcomed half a million tourists, raising total tourist arrivals for the year to 6.2 million. Visitors are attracted to strawberry farms in Da Lat city. (Photo: dalattravel.vn) Agro-tourism, which involves any agriculture-based operation or activity that attracts visitors, is a new product that has emerged to boost local tourism growth. Da Lat’s municipal leaders have encouraged farmers and businesses to invest in agro-tourism. Nguyen Thi Lan Huong, a tourist from Binh Thuan province, joined her friends on an agro-tourism trip to Da Lat. She found it really interesting to pick and taste fruits and vegetables at a farm in Ward 7. Doing farm work is memorable, according to Huong. “I like this place, with its beautiful natural scenery and fresh fruits and vegetables. I enjoyed picking fruits and vegetables myself and tasting them on the spot,” Huong said. Tran Dang from … [Read more...] about Agro-tourism makes Lam Dong province special
With reasonable selling prices and Vietnamese brand, Vsmart’s products are capable of dislodging Chinese brands from the Vietnamese market. The Vietnamese smartphone manufacturer, at its debut event on December 14, 2018, introduced four models. All of them belonged to the low- and medium-end market segments with starting prices of VND2.5-6.3 million. While Vingroup still pursues the strategy of making luxury sedans, Vsmart Lux and Vsmart Super Lux still have not been marketed. However, many things changed a year later. While Vingroup still pursues the strategy of making luxury sedans, Vsmart Lux and Vsmart Super Lux still have not been marketed. Thanh Mai Who are the potential clients for Vsmart’s huge smartphone plant? As the habit of Vietnamese smartphone users has changed, mobile network operators in Vietnam can now cooperate with Vsmart to provide smartphones at low prices with associated service packages. … [Read more...] about Low-cost smartphones – a new strategy of Vsmart?
Apple and Samsung are now controlling the high-end smartphone market segments. Other brands have disappeared. “What should I buy with tma budget of VND20 million?” It’s easy to answer in Vietnam, because there are only two choices, either Apple or Samsung. The Vietnamese smartphone market Statistics from GfK showed that the two manufacturers have ‘swallowed the high-end market’. High-end smartphones are products with the prices of VND15 million or more. In March 2019, the two giants made up 99.2 percent of the high-end smartphone market share, with 42.8 percent belonging to Apple and 56.4 percent to Samsung. In April, Apple jumped to the No 1 position with 59.1 percent of market share. Samsung was in the second position with 34.1 percent, leaving Huawei far behind with 6.5 percent. In March 2019, the two giants made up 99.2 percent of the high-end smartphone market share, with 42.8 percent belonging to Apple and 56.4 percent to Samsung. As … [Read more...] about Vietnamese have only two choices for high-end smartphones