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Vsmart Climbs to 3rd Spot Among Vietnam's Most Popular Phone Brands

Vsmart, the smartphone company owned by Vingroup, is behind only Samsung and Oppo in terms of market share, according to new data.

Viet Nam News reports that data from the global market research company GfK found that Vsmart now accounts for 16.7% of Vietnam's smartphone market. Samsung takes the lead with 30.1% and Oppo comes second with 22.4%. Following Vsmart are Vivo (7%) and Apple (6.8%).

Tran Minh Trung, deputy general director of Vsmart, told the news source that they have seen growth of 260% since the start of this year: "Our goal is to continue optimizing our products to improve quality while catching up with new trends faster, along with more competitive prices so that Vietnamese phones not only meed the domestic market, but also reach the world market."

In addition to its 12 phone models, Vsmart has introduced five smart TV products while launching retail in Myanmar and Russia. Its products are produced at a factory in the Hoa Lac Hi-tech Park in Hanoi.

While Apple and Samsung are dominating the prestige-seeking user base in big cities like Saigon and Hanoi, Vsmart and Oppo, with more affordable options, are slowly winning a following in suburban regions, where utility and cost-effectiveness are choice attributes. Currently, Vsmart models range from less than VND1 million to almost VND4 million, according to retailer websites.

VnExpress adds that while Samsung and Oppo have been the top two smartphone brands for some time, no company has held on to third place for more than six months in recent years, with Apple, Xiaomi, Vivo and now Vsmart rotating into the spot.

[Photo via Medium user Nhat Tan CPS]