Electronics and appliance sales surge to $1.3 billion

Saturday, Nov 29, 2014 13:12

Customers shop for mobile phones, tablets and accessories at a Viettel store on Ha Noi's Ngoc Khanh Street. — VNS Photo Truong Vi

HA NOI  (Biz Hub) — Vietnamese consumer spending on electronics products and appliances reached VND28 trillion (US$1.3 billion), a 20.9-per cent increase, in the third quarter of 2014.

Most of the products purchased were mobile phones and earphones, which brought in sales of more than VND12 trillion ($561 million), a 28-per cent year-on-year increase.

Information and technology (IT) products ranked second with total sales of VND5.6 trillion ($262 million).

Significant growth was also seen in total sales of three major domestic appliances: refrigerators at 15.6 per cent, washing machines at 15.5 per cent and microwave ovens at 12.8 per cent.

However, sales of laptop computers declined, even as sales of tablet devices doubled with the exception of the Apple iPad and iPad mini, which ironically experienced a sales decline in the world market following the release of Apple's iPhone 6.

GFK, one of the world's largest research companies, predicted Viet Nam's technology and electronics market to continue growing in the last quarter of the year.

The company predicted bestselling products to include the LED TV, smartphones and tablet devices, as producers and retailers were expected to offer promotional and sales programmes for these products during the year-end months to stimulate consumer spending.

Sales of washing machines, refrigerators and laptops are likewise expected to grow but at a low rate. — VNS

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