The market in Vietnam for the smartphone has become a barren landfill. Due to the forefront, native high-rollers of the Vietnamese smartphone market basically giving up, this has left a giant space for foreign phone companies to step in and take their place. And they came running to take the position.
If you are unaware, the Vietnamese smartphone market dropped in popularity among its citizens immensely near the middle of last year. The market had been progressively dying out far before then, but a drastic shift happened when the introduction of more foreign smartphones were much more easily accessible. And by now, they’re ready to take on the market.
The frontrunners in this market annexation is the Chinese smartphone and other media outlets company, Xiaomi. And if you haven’t heard of Xiaomi, you’ve most likely bought one of their products without realizing it.
Xiaomi is the top selling smartphone handler in all of China; it is also a big seller in other foreign countries such as Korea, the Philippines, etc. The list goes on and on. But, what we are here to talk about is how they are planning their takeover of the Vietnamese technological market and why they are a force to be reckoned with!
The Previous Top Gunners in The Vietnamese Technological Market
Q-Mobile, BKAV (with their B-Phone), Viettel, FPT, and VNPT are the five technological companies that once had a hold on their country’s niche phone market. However, due mainly to dissatisfaction from the Vietnamese public and some unsure of things happening behind the scenes, all of these companies had a sudden drop in sales.
They just weren’t putting in the same effort, and the products ranged from acceptable to mediocre. Enter here, Xiaomi where a new opportunity for business has arisen.
Xiaomi’s Take Action, Strategic Plan
Now Xiaomi is not the first, nor the only, company to try and snatch up the national niche. Many world renowned companies, such as Asus, Oppo, Huawei, etc., all have been trying to bring their products to the forefront of the Vietnamese market. Yet, Xiaomi seems to be the company making all the sales in comparison of their impending products.
Why is this? Because of Xiaomi’s take action, strategic plan of course!
They merged with a major Vietnamese company, the IT brand of Digiworld Corporation. They then released their first products to the Vietnamese public through them. This choice gave Xiaomi the advantage of having an already trusting audience and gave them a home-front advantage.
But the next question is, will they have continual success?
Will It Be the Best? And Why!
So far, the projected answer is a huge YES!
Within this upcoming year, the heads of Xiaomi have predicted to sell 40 million units within the Vietnamese market, alongside keeping their products most affordable for those with lower income status. This way, they can sell more units without cutting their profit lines. If anything, they are making more than ever in this region.
So far, the success has continued to pour in; and, Xiaomi has only released three of their products to the readily available citizen’s market (the Xiaomi Redmi Note 4, Redmi 4A, and Xiaomi Mi MIX). With this continual success, it seems that Digiworld Corp. will be doing business with Xiaomi within the long-term.
Projected Sales Are Flying High
Xiaomi may be settling in well into Vietnam, but their ambitious goals don’t stop there. If anything, they soar further. With the help of the IT Digiworld Corp.
Xiaomi plans to continue its expansion to other neighboring countries. Some of which include Russia, India, Indonesia, Pakistan, and UAE: A step that would literally make them the most beneficial of any profits they had ever earned, as the market from any of these regions in massive.
But we’ll have to see in the future if they take this fire and push themselves to be the top dog in Asian tech.