How much does Mobile World pay to import products from Apple Vietnam?

This amount shows a part of Apple’s revenue and the huge attraction of Apple products in the Vietnamese market.

In the financial report for 2022 published by Mobile World Investment Joint Stock Company (MWG), the company has short-term payables for major suppliers in Vietnam such as Apple, LG, Sony, Samsung, Panasonic, …

In which, MWG has to pay Apple Vietnam Co., Ltd more than VND 1,255 billion, topping the list of suppliers. This figure is more than double the payables to LG Electronics Vietnam Hai Phong (VND 467 billion), Panasonic Vietnam (VND 419 billion), Samsung Electronics HCMC (VND 294 billion), Sony Electronics Vietnam (VND 294 billion), and Sony Electronics Vietnam (VND 419 billion). 231 billion dong),…

At the beginning of the year, MWG only paid Apple Vietnam about VND 403 billion, but by the end of the year this figure had skyrocketed to more than 1 trillion. This shows the huge amount of goods that businesses import from Apple and outperform other suppliers.

The reason is also because Apple’s selling price is often higher than other brands and Apple products are always the first choice of Vietnamese consumers.

The launch of iPhone 14 in Vietnam in 2022 is an example. Retailers continuously record high buying demand, surpassing all-time records. This helps TopZone – Mobile World’s chain of stores specializing in selling iPhones to increase sales rapidly.

In early 2022, during a meeting with investors, Mr. Doan Van Hieu Em, CEO of two chains The Gioi Di Dong and Dien May Xanh mentioned the goal of opening 200 stores by the end of the year. However, according to newly announced business results, by the end of December 2022, the number of TopZone stores has only reached 100, which is half the target.

Although the new opening speed of TopZone chain has not met expectations, it has had quite good revenue results in the past year. For the whole year of 2022, the TopZone chain brought in VND 2,600 billion, pulling the total revenue of Apple products to increase by 40% over the same period,

Source: Business results for the whole year 2022

The Apple product market in Vietnam in 2022 also shows a boom.The number of mono stores specializing in selling Apple products has blossomed.

GfK data shows that, in October 2022, Apple achieved a market share of 20.5%, less than 1% higher than Oppo, taking the second place of the largest smartphone manufacturers in Vietnam, led by Samsung.

According to data, the total number of smartphones consumed in Vietnam in October 2022 reached about 1.2 million units. With a market share of 20.5%, Apple sold about 240,000 devices. At the top of the company’s best-selling smartphone list for the month are the iPhone 14 Pro Max models, followed by the previous Pro / Pro Max generation.

Entering 2023, iPhone is still expected to achieve greater growth than Android models. Many smartphone retailers and authorized Apple resellers in Vietnam also expect iPhone growth to increase significantly.