Business

Smart phone retailers race for market share

The mobile phone market, especially the smart phone market, will continue to witness the discounting of products as manufacturers race to introduce new products and retailers race to gain market share.
The mobile phone market, especially the smart phone market, willcontinue to witness the discounting of products as manufacturers race tointroduce new products and retailers race to gain market share.

Before the two latest smart phones were brought out by SamsungCorporation-the Galaxy S6 and Galaxy S6 Edge – which was available forsale in Vietnam beginning April 11, FPT Shop retail system had adjustedprices for many products by decreasing their price by between 1.1million VND (50.6 USD) and 2.7 million VND (124.2 USD).

NguyenThe Kha, deputy director of F.Studio by FPT, said fierce competitionamong retailers drove F.Studio by FPT to develop a promotional programmefor customers purchasing iPhone 5s on installment plans. Customers nowpay 5.6 million VND (257.6 USD) in advance and pay the remainder at zeropercent interest rate for six months.

The gioi di dong,another giant retailer that owns 350 retail outlets, also uses the samestrategy for its smart phones by cutting prices of Samsung Galaxy Note 4by 2.5 – 3.5 million VND (115 – 161 USD) and Samsung Galaxy Grand PrimeG530 by 800,000 VND (36.8 USD).

Vo Le Tam Thanh, marketanalyst for client device research at IDC Vietnam, said rapid pricereductions have resulted in the quickening penetration of smart phonesin Vietnam.

An IDC survey showed that 28.7 million mobile phones were shipped to Vietnam last year, 13 percent more than in 2013.

Smart phones enjoyed the highest growth, as shipments reached 11.6million units, a year-on-year growth of 57 percent, and are expected toeclipse feature phones this year.

According to an analysis ofIDC Vietnam, even though low-price smart phones are the main drivingforce for growth, consumption of high-end smart phones contributedremarkably to the turnover.

For example, 200 FPT Shop storesnationwide sold 800 Samsung Galaxy S6 and S6 Edge smart phones on theday the phones went on sale.

The Samsung Galaxy S6 and S6 Edgeare sold for 16.59 million VND (790 USD) and 19.99 million VND (951.9USD), and the two latest smart phones brought in some 15 billion VND(690,000 USD) for FPT Shop in only one day.

Such figures have revealed the high demand among domestic consumers for new smart phones.
Contributing to the high consumption of the two new smart phones were the attractive promotions offered by FPT Shop.

The continuous release of new smart phones has resulted inincreasingly harsh competitiveness in the smart phone market, which putpressure on retailers to sell old models, while promoting and sellingnew models at the same time.

Therefore, IDC Vietnam forecast that there would be additional discounting programmes in the future.-VNA
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