Before 2010, both Vietnam and India only accounted for about 1% of the global smartphone export market share. By 2022, Vietnam’s market share will approximately reach 12%, while India’s will only be slightly more than 2.5%.
Data from UN Comtrade (United Nations Commodity Trade Statistics Database), ITC Trade Map (International Trade Center’s online database on international trade) and the Ministry of Commerce and Industry. Indian industry shows that Vietnam has surpassed Samsung to become the second largest phone exporting country in the world.
Indian media commented that Vietnam has quietly expanded its smartphone export market share in recent years.
Meanwhile, although China still holds the number one position, its market share is tending to decrease with 49.4% in 2022 compared to the peak of 53% in 2015. Previously, the country’s market share was continuously decreasing. continued to increase since 2009.
Indian Media (sheet The Hindu) commented that although China still leads, Vietnam has continuously expanded its market share steadily in recent years.
This early year, Reuters reported that India’s Minister of Information Technology expressed concern that the country is falling behind China and Vietnam due to high tax rates on mobile components. Although New Delhi has reduced import taxes on components such as lenses, batteries or back covers from 15% to 10%, India continues to impose a 20% tax on chargers and circuit boards.
In April 2023, according to the 2022 import-export report of the Ministry of Industry and Trade, Vietnam produced about 210.5 million smartphones, with the main export markets being China, the US, the EU, Korea, and the UAE. and Hong Kong (China).
Also this year, Vietnam’s export turnover of phones and components reached approximately 58 billion USD, an increase of 0.81% compared to 2021 and accounting for 15.62% of the country’s total export turnover of goods. Of which, exports of complete phones reached 33.32 billion USD, up 0.67% compared to a year ago, accounting for 57.4% of the total export value of the product group.