TECH SUPPLIER Sep 2021 - Market Note - Doc # AP48089421

The Rise and Fall of Yet Another Homegrown Smartphone Player in Vietnam

By: Kiranjeet KaurSenior Research Manager, Client Devices, IDC Asia/Pacific, Thanh Vo

Abstract

This IDC study looks at the Vsmart, a homegrown smartphone brand of the Vietnam conglomerate Vingroup that made a quick entry and exit from the smartphone market. Despite having the right partnerships in place and the financial backing to make it work, the tenure in the smartphone market was short lived as it became increasingly difficult for local players to fend off competition from the tier-1 smartphone players. According to Kiranjeet Kaur, Senior Research Manager, IDC Client Devices, “

This is not the first time that the intensely competitive smartphone market has seen the rise and fall of a mobile phone player. Vsmart is no exception as it faced growing competition from the other dominant players in the market, limiting its growth to the very low-end of the market. Even as Vsmart put the parent company’s might behind it and quickly rose to the number 3 position in the Vietnam market, it eventually made the decision to exit the market altogether.”


Coverage

Subscriptions Covered

Asia/Pacific Devices


Companies Covered

VinSmart, Vingroup Joint Stock Company


Regions Covered

Vietnam


Topics Covered

Android, Smartphone


Content


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