Apple’s iPhone shipments dropped 11.9% quarter-over-quarter (QoQ) in the third quarter of 2022, but had a dramatic growth of 173.3% year-over-year, according to IDC.
The research groups says the QoQ drop was a result of channel partners clearing inventory and preparing for the launch of the iPhone 14 series in October. Apple’s support for its local partners by adjusting distribution and pricing policies has helped grow local shipments and reduce the number of hand-carried iPhones from overseas, according to IDC. Apple is fourth among smartphone companies in Vietnam, based on market share.
It has 12% of the market. The top three spots are held by Samsung (34% market share), OPPO (21.6%), and Xiaomi (14.9%).
Vietnam’s smartphone shipments grew sequentially by 1.6% to reach 3.2 million units in the third quarter of 2022, notes the research group. Year-on-year growth was 28.5%, but this was against an abnormally low base last year, and shipments were still significantly lower than they were before the pandemic in the third quarter of 2019.
Consumer demand was soft, as a result of high inflation and a weaker macroeconomic scenario. According to the General Statistics Office, Vietnam’s exports were lower than expected, declining 14.3% from August to September, resulting in factories going idle.