China’s Xiaomi grabbed a 12 percent market share in the third quarter to surpass Vivo and become the third-largest smartphone brand in Vietnam.
Xiaomi reported sales growth of 114 percent year-on-year despite Covid-19 impacts, Singaporean technology market analysis firm Canalys said in a recent report.
South Korea’s Samsung stayed on top with a 33 percent market share, followed by China’s Oppo (15 percent); but sales of both brands dropped sharply at 6 percent and 21 percent year-on-year respectively.
VinSmart, a subsidiary of Vietnam’s largest listed company, Vingroup, was fourth with a 9 percent market share.
VinSmart had launched its first product at the end of 2018, and produced its first 5G smartphones in collaboration with U.S. chip giant Qualcomm last month. The brand is focusing on the low-end segment with 12 offerings all priced at below VND5 million ($212).
China’s Vivo also grabbed a market share of 9 percent in the third quarter after growing 75 percent.
Almost 10 smartphone brands have been vying for third place in recent years, with Apple, Xiaomi, and Vivo the most notable names. No brand has remained in that position for more than six months.
According to We Are Social, a social media marketing and advertising agency, around 75 million people, or almost 80 percent of the country’s population, use smartphones.