December 13, 2017

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Vietnam consumer tech growth continues

by Stuart Wilson, Wednesday 4 October 2017

GfK data indicates continued strength in Vietnam's consumer tech market
GfK data indicates continued strength in Vietnam’s consumer tech market

Research house GfK’s latest analysis of the ICT, telecoms and consumer electronics market in Vietnam indicates that the total market value grew 13.2% year-on-year in the second quarter of 2017 to hit US$2.12 billion. The strong growth was driven by sales increases in six of the seven segments that GfK tracks. Telecoms sales were up 18.3% year-on-year at US$1.07 billion.

GfK’s TEMAX research measures the size of the ‘technical consumer goods’ (TCG) market, which includes the following product categories: consumer electronics; photo; major domestic appliances; small domestic appliances; IT; telecoms, office equipment and consumables.

Consumer electronics sales jumped 11.3% year-on-year to US$350m, driven by strong growth in the TV category. IT spend rose 2.2% to US$250m in the second quarter.

GfK stated: “[In IT] the sales of the largest segment – mobile computing - rocketed in the second quarter of 2017, which led to the overall growth of IT sector compared to the second quarter of 2016.”

“[In telecommunications] the sector’s largest segment – smart and mobile phones – remarkably grew by well above the sectoral average. Meanwhile, the phablets segment boosted sales year-on-year in the second quarter of 2017,” GfK continued.

GfK is an Event Partner at DISTREE Asia Pacific (APAC) 2017, which takes place from November 8th to 10th in Singapore. Leading technology distributors and retailers from Vietnam will attend the event to hold pre-scheduled one-on-one meetings with exhibitors.

DISTREE APAC is a hosted buyer event that gives consumer tech brands the opportunity to hold pre-scheduled one-on-one meetings with senior executives from leading channel partners from 20-plus countries. GfK will deliver a series of presentations at DISTREE APAC 2017 including a keynote speech, VIP breakfast briefing session, plus workshops.

DISTREE APAC 2017

Channel APAC is an official Media Partner for regional technology and consumer electronics retail channel event DISTREE APAC taking place November 8-10th in Singapore. Vendors, distributors and retailers requiring more information about DISTREE APAC 2017 should contact stuart@channelemea.com quoting code DAP17.

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