The Vietnamese information and communication technology (ICT) and electronics markets will see marked growth in both 2006 and 2007, according to Market Research firm GfK.
GfK is forecasting combined revenues from the markets to reach 2.3 billion this year and 3 billion USD by 2007.
Mobile phones are still burgeoning sellers, accounting for 38 percent of total sales, home electronic appliances will account for 28 percent.
Cellular phones are becoming more prevalent throughout the country as living standards rise, with the industry expecting to sell a total of 4.7 million mobile phones in 2006 and nearly 6.3 million by 2007.
GfK reported that each man, woman and child spends 10.5 USD on average on phones and services yearly. It is the bottom of the line phones that are flying off the shelves, however, as 100-200 USD articles accounted for most of the market share and 400-500 USD items accounting for only 3 to 4 percent.
LCD TV sales rank second to only mobile phones in sales revenues with big increases in the sale of 22 to 29 inch TVs. Smaller screen TVs however have recorded a marked reduction in sales falling from 24 percent of all television sales last year to 17 percent in the first half of this year.
Market observers say that the move into the television market is not only due to consumers' demand, but is also the result of new business strategies of large TV manufacturers. Samsung for instance, has delegated flat-screen TVs and high-grade TVs as two of its strategic focal points. The firm has recently rolled out a number of large-sized flat-screen TVs such as the Limfit and Samsung Bordeaux.
Experts believe that ICT products will attract a growing number of customers in the near future, as the market will be inundated with more domestic computer companies and low-cost computer lines from overseas.