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Publication date: 29 May 2023

Vietnam Smartphone Market Declined by 5% Quarter-over-Quarter (QoQ) and 46% Year-on-Year (YoY) in 1Q23, According to IDC


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The Lunar New Year Shopping Season Could Not Salvage Vietnam’s Smartphone Market Downturn In 1Q23

Ho Chi Minh City, May 30, 2023 – According to the International Data Corporation’s IDC Worldwide Quarterly Mobile Phone Tracker, the Vietnam smartphone market declined by 5% quarter-over-quarter (QoQ) and 46% year-on-year (YoY) in 1Q23, shipping 2.4 million units.

Even as the country continues to attract foreign direct investment from other countries in the region, consumer demand remained stagnant due to the mass layoffs among the garment, footwear and wood workers industry in the country's export-reliant economy, as the sluggish global economy slashed demand for these goods.

The use of installment plans to buy smartphones, which had become a common trend and saw the rapid growth over the past few years, also started to drop under higher interest rates and lower maximum limits.

"As consumers tightened their spending and fewer financing options became available, smartphone vendors and channel partners launched more promotions and discounts," said Thanh Vo, research analyst with IDC's Devices Research team. "Demand has not picked up, and the market will need more time to recover in conjunction with growth in manufacturing and exports.”

To know more about the IDC Vietnam Quarterly Mobile Phone Tracker, please contact Thanh Vo at For media inquiries, contact Fenny Tjandradinata at   or Jane Yap at


About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools.

About IDC 

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.