Vietnam remains world's second largest smartphone exporter

ABO/NDO- Vietnam has remained the world's second largest smartphone exporter.

By 2022, Vietnam’s export share reached 12% on the global smartphone market, while India, a rival of Vietnam in this market, ranked seventh with a little over 2.5% 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, the UAE, the Czech Republic, the US and the Republic of 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 5.5 billion USD, an increase of more than 50.4% compared to December 2023 and an increase of 11.4% year on year.

Illustrative image (Photo: VNA).

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 USD, accounting for 25% of the exports. China came second with about 734 million USD, 13%, and the RoK third, with 330 million USD.

The General Department of Customs' statistics also showed that in 2010, the export turnover of phone components and components only accounted for 3.2% of total national export value, but this group of electronic products gained an annual average growth rate of 34% in export value during the period of 2011-2021.

In 2023, overseas shipment of phones and accessories totalled 52.3 billion USD, down 9.7% compared to 2022. Phones and accessories ranked second in export value, after computers, electronics and components.

According to an HSBC report, Vietnam held 13% of the global smartphone market share in 2021, being the second-largest smartphone exporter in the world.

Vietnam now is also an attractive destination for big firms in the global phone and component industry, including Apple. At present, about 25 suppliers of Apple locate their factories in Vietnam, vtv.vn reported.

(Source: NDO)