Vietnam Smartphone Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

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 .

Vietnam Smartphone Market Report Summary

Market Size 2024

• USD Billion 4.00

Market Size 2034

• USD Billion 4.60
• CAGR 2025-2034
• 1.40%

CAGR 2025-2034 - Market by Operating System

• Android
• 1.6%

CAGR 2025-2034 - Market by Distribution Channel

• Online Channels
• 1.7%

Vietnam Smartphone Market Growth

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.

Key Trends and Recent Developments

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.

April 2025

Leading Vietnamese mobile operators Viettel, Mobifone, and VNPT signed a Memorandum of Understanding for creating a platform under the GSMA Open Gateway initiative for combating online fraud by deploying open CAMARA APIs. This collaboration marked a significant step in creating a more integrated as well as innovative digital ecosystem in Vietnam.

September 2024

Vietnamese digital service provider, Viettel extended its long-term partnership with Ericsson for the award of its major 5G nationwide network, the 5G Radio Access Network (RAN) deployment. Ericsson 5G products and services were immediately deployed across majority of provinces in Vietnam.

April 2024

Realme introduced Realme C65, its new C-series smartphone in Vietnam. The product is an LTE-only handset driven by a MediaTek Helio G85 processor. This latest C-series smartphone comes in three configuration options and also features a 90Hz LCD screen and a 5000mAh battery.

May 2024

Samsung Electronics disclosed plans of increasing its annual investment by a whopping USD 1 billion in its operations in Vietnam with hopes that the new investment would continue in improving its business environment. This move also aimed at helping more Vietnamese companies become a part of the supply chain.

Investment strategies

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.

Improved purchasing power

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.

Advances in 5G network

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.

Rapid Digitalization

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.

Vietnam Smartphone Market Trends

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.

Vietnam Smartphone Market Opportunities

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).

Vietnam Smartphone Market Restraints

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.

Vietnam Smartphone Industry Segmentation

The Expert Market Research'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

• Android
• iOS
• Others

Breakup by Distribution Channel

• Specialty Stores
• Retail Stores
• Online Channels
• Others

Breakup by Region

• Southeast
• Red River Delta
• Mekong River Delta
• South Central Coast

CAGR 2025-2034- Market by

• Distribution Channel
• Online Channels
• 1.7%
• Retail Stores
• 1.5%
• Specialty Stores
• Others

Vietnam Smartphone Market Share

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.

Vietnam Smartphone Market Regional Analysis

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.

Competitive Landscape

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.

Apple Inc.

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.

Samsung Electronics Co., Ltd.

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.

Lenovo Group Ltd.

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.

Xiaomi Corporation

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.

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.