Vietnam Emerges as Second Largest Smartphone Exporter after China
Vietnam Surpasses India to Become Second Largest Exporter of Smartphones
Vietnam has made a significant mark in the global smartphone market by becoming the second largest exporter of smartphones after China. The country has surpassed India, which has been focusing on smartphone exports in recent years.
By 2022, Vietnam’s share of smartphone exports in the global market reached 12%, while India, in comparison, was only seventh with a share of 2.5%. This remarkable achievement has even led Vietnam to displace South Korea as the second largest smartphone exporter.
Vietnam’s success can be attributed to its ability to attract companies looking to diversify their supply chains and reduce dependence on China, which still remains the leader in smartphone exports, accounting for half of the world’s smartphones.
The rapid growth of Vietnam’s smartphone export industry is also fueled by the booming smartphone market in the US, the largest importer of mobile phones in the world. From 2018 to 2022, Vietnam’s share of US smartphone imports doubled from 9% to 18%.
Apart from Vietnam, other major exporters of smartphones globally include Hong Kong, the UAE, the Czech Republic, and the USA.
Vietnam’s emergence as a key player in the smartphone market highlights the country’s growing influence in global trade and technology. As companies continue to seek alternative manufacturing locations, Vietnam’s position as a top smartphone exporter is likely to strengthen further in the coming years.
[ORIENT news]
