VinSmart announces record data after only 15 months: gaining a market share of 16.7%, ranking third in Vietnam’s smartphone market.

VinSmart has just released a press release with unexpected results, rising to 16.7% of Vietnam’s smartphone market share, officially setting an unprecedented growth record in the market after only 15 months of launch.

The information was published in the March 2020 report of GfK, a market research firm – one of the most prestigious market research companies in the world.

According to the market report last week in March 2020 made by GfK, after 7 weeks of double-digit growth, VSmart phones of VinSmart has officially reached 16.7% market share, joining the group of three brands with market share of over 15% (with Samsung and OPPO); At the same time, it maintains a distance from the rest of the brand.

It should be added that, in the complicated stage of the Covid-19 translation, Vsmart could still sell well, which is a good sign for the smartphone market in general.

Market share comes from the popular phone segment

The GfK report also points out that Vsmart smartphones dominate the popular phone segment, priced at VND 1-3 million. In particular, the Vsmart Joy 3 phone model (which we have written in detail here ) is a breakthrough growth factor, with a record of 12,000 units sold within the first 14 hours of launch. By the end of March 2020, Vsmart Joy 3 (2GB and 3GB RAM versions) was in the top 3 best selling products in the 2-3 million segment, bringing 13.3% market share for VinSmart.

Vsmart Joy 3 is the name that brings market share for VinSmart.

Besides efforts to increase market share, VinSmart also plays an active role in raising the proportion of smartphones below 2 million. According to GfK’s report, from 1% of the total market in early February 2020 – by the end of March 2020, the segment of less than VND 1 million has increased to 4.4%, of which Vsmart accounted for 77%. Similarly, the smartphone segment under VND 2 million has increased from 6.5% to 11.1%, of which Vsmart accounts for 70% of the entire segment.

Right Strategy

Compared to other Chinese rivals in the same price range, Vsmart’s smartphones possess both superior configuration and features. In addition, the strength of extensive customer service along with good warranty policy also scores.

Mr. Tran Minh Trung, Deputy General Director of VinSmart Research and Joint Stock Company, said: “With an increase of 260% market share from the beginning of 2020 until now, reaching 16.7% market share after only 15 months of launching – showing VinSmart Our goal is to continue optimizing our products so that the quality is better and better, catching up with new trends faster at more competitive prices, so that Vietnamese phones not only meet Good at the domestic market but also advancing rapidly towards the world “.

By the end of March 2020, VinSmart has launched 12 models of phones and 5 models of smart TVs and expanded the market to Myanmar and Russia. Earlier, in November 2019, VinSmart inaugurated the first phase of a complex of electronic equipment factory in Hoa Lac Hi-tech Park (Hanoi). With an area of ​​nearly 14.8 hectares, a total capacity of 125 million devices / year – this is one of the largest electronics manufacturing factories in the region.