Vietnam’s smartphone market declined 30% year-over-year in the first quarter of 2023, according to Counterpoint Research, marking the industry’s worst quarter one decline ever. However, the news was good for Apple.
Samsung led the Vietnamese smartphone market in quarter one of 2023 with 30% share, but Apple was the only brand to grow year-over-year. The iPhone now has 17.6% of the country’s smartphone market compared to 14.4% in the first quarter of 2022.
Counterpoint says there was high demand for the iPhone 14 Pro series early in the quarter, though it eventually fizzled out. Apple unexpectedly cut iPhone prices during the quarter to boost demand and clear the high inventory in channels.
The price of the iPhone 14 Pro Max was lowered by an average of 12% in quarter one of 2023 compared with its launch price. Due to the reduced iPhone prices, Apple shipments increased 12% year-over-year in quarter one of 2023. This helped the >$600 price band capture a 24% share of the market in the time period compared to just 17% in the first quarter of 2022.