Samsung smartphones’ market share slipped 2.3 percentage points to 38.45 percent in October, the first time it has dipped below 40 percent this year.
The South Korean brand sold over 500,000 smartphones in October, an increase of 20 percent compared to the previous month, according to a report by market research firm GfK.
But total sales of smartphones in Vietnam surged 28 percent month-on-month in October to nearly 1.37 million units, resulting in a drop in Samsung’s market share, the report said.
A focus on high value products was also a reason Samsung lost market share in October, a representative of cellphoneS, a leading smartphone retailer in Vietnam, told VnExpress.
In October, the high-end Galaxy Note 10 and Note 10+ models made up 45 percent of the retailer’s Samsung sales, he said.
With 38.44 percent market share in October, Samsung still led the Vietnam market, followed by Chinese brands OPPO and Xiaomi with 25.2 percent and 10.2 percent respectively.
China’s Realme had dislodged Apple from its fourth position in September, gaining 6.2 percent of the market share. Apple slipped a notch to fifth place with 6.1 percent. Industry insiders said Vietnamese consumers waiting for the latest iPhone model, which was released in November, was the main reason for the falling sales in October.
Strong sales in the first quarter of 2019 allowed Samsung to retain its leading position in terms of market share in the first 10 months this year, accounting for over 43 percent of total sales. Samsung’s market share had peaked at over 50 percent in March, two times higher than second placed Chinese brand OPPO, according to the GfK report.
The report said the market could see major shifts in the last two months of 2019, with Apple having released its three new Iphone 11 models, new products from Xiaomi, Realme, and Chinese phone-maker Vivo entering the market and retailers simultaneously launching discounts for end of the year promotional events like the Singles Day (November 11), Black Friday, Christmas and the New Year.
Category: Business, Vietnam