Hafele, Beko and Galanz are among the brands consumers have only gotten to knowin the last couple of years.
They sell a wide range of products such as ovens, rice cookers and refrigeratorsat prices that are 20-30 percent lower than their established competitors’.
Hoang Minh Kiet, a business executive at electronic appliances distributor Tan MinhPhat company, explained that the new brands are willing to take a loss in thebeginning.
Turkey’s Beko, which not many consumers are familiar with, has recentlyintroduced several product lines like refrigerators, washing machines andmicrowave ovens.
Phung Dinh Luc, technical director of Japanese brand Sharp, said the technologyfor manufacturing TVs has become commonplace and so there are many brands inthe market.
Foreign brands are also shipping components to Vietnam for assembly, and sothere are many relatively cheap appliances available now, he said.
Various brands have been reaping success, and though currently there is a lullin the purchase of household appliances, many are confident about theirproducts, he said.
Vu Duong Ngoc Duy, general director of Viettronics Tan Binh JSC, said hiscompany is working with Japanese electronic brand Sansui to make TVs in Vietnamand sell at a competitive price.
Though the market is now struggling due to COVID-19, it is expected to recoversoon, and consumption of appliances would recover, he said.
While many consumers are used to Japanese and Korean brands and tend to be waryof unfamiliar brands, low-priced appliances are often well received in ruralareas.
Retail chains have identified rural areas as a lucrative market withnon-demanding customers who do not yet own many electronic appliances whereaslarge cities have little room for new brands./.
VNA