Thai electronics account for 70 percent of market share

According to the Ministry of Industry and Trade, Vietnam had imported a worth of US$226.9 million of household appliances and spare parts by the end of February, up 20.45 percent compared to the same period last year.
Noticeably, household appliances and spare parts were mainly from Asian countries, of which, Thailand accounted for more than 50 percent of total turnover. This proves the infiltration of Thai enterprises into Vietnamese market via acquisitions and mergers of large retail chains. For instance, Berli Jucker (BJC) bought the Japanese 42-convenience-store FamilyMart and renamed it to B’mart. Earlier, it also purchased the Vietnam cash-and-carry wing of Germany's Metro AG for 655 million euros ($876 million). In early 2015, Central Group bought 49 percent stake in the company which owns Nguyen Kim electronic chains.
Up to now, Thai products are present in nearly 9,000 markets across the country and predominate over products of other countries, especially made-in-Thailand electronic and refrigeration appliances which account for up to 70 percent of market share.
Vietnamese consumers have favored Thai products because they tend to be 10-20 percent more expensive than Vietnamese ones and half as expensive as European ones but are of same level of quality. Meanwhile, most domestically-made products are unfashionable and of uneven quality, hence, they only suit low-income consumers.

By Lac Phong – Translated by Thuy Doan

Other news


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market