Low demand has driven iPhone 14 prices in Vietnam to the second lowest levels in the world after only the U.S. According to German data portal Statista, the price starts at US$799 in the U.S. while authorized Apple resellers in Vietnam sell it at VND19.7 million ($834.7).
“The iPhone 14 is not popular, and so stores are selling them at close to import prices to recover capital,” said Thanh Son, the owner of a mobile phone showroom in HCMC’s District 1.
But in other Asian markets, the prices are higher. They start at VND22.3 million in Singapore, VND20.7 million in Hong Kong, and VND23 million in Thailand.
In Vietnam, the prices of two high-end models, 14 Pro, and 14 Pro Max, are only VND1 million lower than in the U.S.
The iPhone 14 Pro Max costs VND28 million, down VND3.5 million within just one month. “This is an unexpected development because in previous years, it was not until June or July that iPhone prices fell steeply,” Nguyen Lac Huy, a manager at retail chain CellPhoneS, said.
Unlike at the end of last year, the supply of iPhone 14s is now abundant, so people can choose colors and capacities.
Nguyen Minh Khue, a manager at another retail chain, Viettel Store, said the prices of the entire iPhone 14 range were recently cut by up to VND2 million due to the falling demand and increasing supply.
Some other Apple products are also among the cheapest in the world in Vietnam. An iPad 9 starts at VND7.5 million and a MacBook Air M1 at VND19.9 million, while in the second cheapest market, Hong Kong, the latter still sells at VND23.4 million.