The Vietnam smartphone market size was valued at USD 4.00 Billion in 2024. The industry is expected to grow at a CAGR of 1.40% during the forecast period of 2025-2034. The rapid advances in FinTech, focus on digital economy and the strong growth of ecommerce have resulted in the market to likely attain a valuation of USD 4.60 Billion by 2034.
Base Year
Historical Period
Forecast Period
The rapid rate of urbanisation and the subsequent acceleration of digitalised lifestyles will increase the Vietnam smartphone market share. According to industry reports, the urbanization rate in Vietnam is expected to exceed 50% by 2030 and touch 70% by 2050. Meanwhile, the total number of urban areas across the nation is estimated to reach 1,000-1,200.
The swiftly expanding millennial and Generation Z population along with the growing number of tech-savvy individuals will fuel the industry expansion. Apart from social connectivity and education, the younger population in Vietnam uses smartphones for creating content and online shopping.
The rising production of affordable smartphones to cater to low-income consumers in the country will favor the Vietnam smartphone industry. According to industry reports, the share of smartphones priced under USD 200 hit 51% in Q3 2024, the highest since Q1 2022. This was mainly driven by the shutdown of the 2G network.
Value in USD Billion
2025-2034
Vietnam Smartphone Market Outlook
*this image is indicative*
|
Vietnam Smartphone Market Report Summary |
Description |
Value |
|
Base Year |
USD Billion |
2024 |
|
Historical period |
USD Billion |
2018-2024 |
|
Forecast Period |
USD Billion |
2025-2034 |
|
Market Size 2024 |
USD Billion |
4.00 |
|
Market Size 2034 |
USD Billion |
4.60 |
|
CAGR 2018-2024 |
Percentage |
XX% |
|
CAGR 2025-2034 |
Percentage |
1.40% |
|
CAGR 2025-2034 - Market by Operating System |
Android |
1.6% |
|
CAGR 2025-2034 - Market by Distribution Channel |
Online Channels |
1.7% |
The rapid advances in financial technology (FinTech) and the subsequently rising popularity of online digital payment solutions, including QR scanners and digital wallets will improve the Vietnam smartphone market value. According to industry reports, as of June, over 34 million e-wallets were active in Vietnam. This accounted for 59% of the total 58 million activated e-wallets. Several efforts are also initiated across the country to ensure that Vietnamese consumers conduct e-commerce transactions through in-app payments. In April 2025, DEMIA Secure Transactions forged an alliance with the National Payment Corporation of Vietnam (NAPAS) for enhancing the digital payment infrastructure across the country.
The demand of the Vietnam smartphone market will expand with the growing investments, surging purchasing powers of consumers, expansion of 5G networks and digitalization initiatives.
The Vietnam smartphone market development will be influenced by the rising number of investments aimed at ramping up the manufacturing capabilities to reaffirm the growing role of the country as a global electronics production hub. In January 2025, the Vietnamese Government signed a decree to establish the investment support fund as the country looks to attract more foreign direct investment (FDI) for offering large incentives to large tech firms.
The rising household incomes combined with the increasing spending and purchasing capacities of the regional consumers is driving the higher sales of electronics, further adding to the growth of the Vietnam smartphone market. According to industry reports, Vietnam's middle class is predicted to witness a rise in disposable incomes as 60% of households are expected to earn more than USD 5,000 annually by 2027.
The rapid developments in 5G networks on account of the thriving need for improved internet connectivity will accelerate the Vietnam smartphone market expansion. In October 2024, Viettel Group officially launched Vietnam’s first 5G network in Hanoi comprising 6,500 BTS stations while covering 63 provincial capitals and industrial zones, ports, airports, tourist sites, hospitals, and universities. This helped the firm to enhance broadband internet access and provide fiber optic connections to each household.
The Vietnam smartphone market revenue will increase with the growing focus on promoting the digital ecosystem in the country. With significant efforts on environmentally sustainable digital infrastructure and establishment of innovation zones for technological developments, Vietnam is emerging as a vital hub for network and data security. In April 2025, The GSM Association (GSMA) partnered with the Vietnam Digital Communications Association (VDCA) for accelerating Vietnam’s mobile and digital communications ecosystem.
The strong demand for e-commerce due to the accessibility to improved data and internet services will play a key role in the Vietnam smartphone market expansion. The growing emphasis on bringing innovations in telecommunications is enabling operators to offer enhanced 5G experiences. In January 2025, American technology frontrunner Qualcomm Technologies leveraged its partnerships with Vietnamese companies for scaling up its operations in Vietnam. By deploying advanced networks, both companies will work to empower greater network efficiency, flexibility, and performance. The expansion of smart city initiatives along with the increasing efforts on developing feature-rich devices will boost the overall industry development.
The growing expenditure on increasing the number of imports is a prominent factor influencing the Vietnam smartphone market trends. According to industry reports, Vietnam's import of mobile phones as well as components reached more than USD 3 billion in the first quarter of 2024. A strong focus is also laid on ramping up the rate of production of smartphones in the region to cater to the swiftly growing user base. In July 2022, Xiaomi initiated investments for the manufacturing of smartphone components in Vietnam in line with its plan to compete against industry giant Samsung of the Republic of Korea (RoK).
The growth of the Vietnam smartphone industry can be hampered by the higher import duties and taxes along with the globally rising chip prices. The growing reliance on outsourced components and the rise in fierce competition in the low-priced segment are some other obstacles for Vietnam's smartphone manufacturers.
The EMR’s report titled “Vietnam Smartphone Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Breakup by Operating System
Breakup by Distribution Channel
Breakup by Region
|
CAGR 2025-2034- Market by |
Distribution Channel |
|
Online Channels |
1.7% |
|
Retail Stores |
1.5% |
|
Specialty Stores |
XX% |
|
Others |
XX% |
Market Insights by Operating System
As per the Vietnam smartphone market analysis, the demand for android smartphones will expand with their powerful performance, customizable interface, variety of apps, and high-quality cameras. Android offers better charging options. The presence of widgets and self-contained programs also add functionality and flexibility to the Android devices.
IOS smartphones will gain ground in the country due to their growing popularity on account of ease of use, sleek design and reliable software. According to industry reports, Vietnam imported 9,636 shipments of Iphones from Sep 2023 to Aug 2024. This rise in imports will positively influence the segment growth.
Market Insights by Distribution Channel
As per the Vietnam smartphone market analysis, specialty stores will garner significant preference as they offer knowledgeable and engaging services for tailored customer requirements. The benefits of limited editions, in store experience and chosen assortment of high-quality products will boost the segment growth.
Meanwhile, the demand for smartphones in retail stores will grow across the country as they give consumers a benefit of assessing the screen size, design and camera quality. These distribution platforms also offer immediate product availability with flexible financing options.
With exclusive deals and price discounts, online channels will account for a strong position in the Vietnam smartphone market report. In May 2023, Apple launched its online Apple Store in Vietnam to expand its business in the South Asian country to help its customers to shop directly from Apple.
Southeast Smartphone Market Opportunities
The increasing number of stores dedicated to retailing technology products mainly in Hanoi and Ho Chi Minh City will propel the demand for smartphones in Southeast Vietnam. The presence of a booming Generation Z population and the rise in active content creators on the digital platform will influence the regional market growth. In September 2022, TCL introduced a series of 3 smartphones under TCL 30, including TCL 30+, TCL 30SE and TCL 305 in Ho Chi Minh City.
Red River Delta Smartphone Market Trends
The Red River Delta area in Vietnam experiences heavy smartphone demand due to the rising production of technology components combined with the expanding digital infrastructure. In September 2024, Samsung Display Co invested an additional USD 1.8 billion in a new organic light-emitting diode (OLED) manufacturing plant located in the Bac Ninh province to focus on manufacturing advanced OLED displays for automobiles and technology equipment.
Mekong River Delta Smartphone Market Factors
With dense population and the subsequently rising household incomes, smartphones will witness increased usage in the Mekong River Delta region. A large number of initiatives have been undertaken to foster digital literacy amongst farmers given the presence a well-established agricultural landscape in this area. The surge in such measures and the rapid shift to urban areas will influence the product uptake.
South Central Coast Smartphone Market Drivers
The expansion of the tourism sector in the South Central Coast combined with the surge in government-led smart city projects are some of the major Vietnam smartphone market trends. The booming urbanization and the stronger need for digital connectivity is propelling the increased adoption of mobile payment solutions, subsequently adding to the product demand in the region.
Leading players in the Vietnam smartphone market are engaging in product launches and technological advances to improve their revenue sales. They are working on partnerships, investments, and production expansions to augment their global presence.
Founded in 1976 and headquartered in California, United States, Apple Inc. is an American multinational corporation. This company has revolutionized the technological sector through its innovative offerings in computer software, personal computers, mobile tablets, smartphones, and computer peripherals.
Founded in 1969 and headquartered in Suwon-si, South Korea, Samsung Electronics is a major multinational major appliance and consumer electronics corporation. The firm is a well-known producer of mobile phones, LCD and LED panels, digital cinema screens, memory chips, solid-state drives, televisions, laptops and many more products.
Founded in 1984, Lenovo Group Limited is a Chinese multinational technology company with its headquarters in Beijing, China and Morrisville, United States. Lenovo is known for designing, manufacturing, and marketing consumer electronics, personal computers, software, servers, converged and hyperconverged infrastructure solutions, and related services.
Founded in 2010 and headquartered in Beijing, China, Xiaomi Corporation is one of the major manufacturers of smartphones across the world. The company also makes and invests in mobile apps, laptops, bags, shoes, home appliances, consumer electronics, and many other products.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the Vietnam smartphone market are Nothing Technology Limited, ASUSTeK Computer Inc., Huawei Technologies Co., Ltd., HTC Corporation, Sony Group Corp. and others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the Vietnam smartphone market reached an approximate value of USD 4.00 Billion.
The market is projected to grow at a CAGR of 1.40% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 4.60 Billion by 2034.
The major drivers of the market are the growing investments, rapid urbanization, and expansion of digital infrastructure.
The key trends of the market include expansion of 5G networks, higher purchasing power and manufacturing of affordable phones.
The major regions in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast.
The various operating types considered in the market report are Android, iOS, and others.
The various distribution channels considered in the market report are specialty stores, retail stores, online channels, and others.
The major players in the market are Apple Inc., Alphabet Inc., Samsung Electronics Co., Ltd., Xiaomi Corporation, Nothing Technology Limited, ASUSTeK Computer Inc., Lenovo Group Ltd., Huawei Technologies Co., Ltd., HTC Corporation, Sony Group Corp. and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Operating System |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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