Phones and components make Vietnam the second-largest exporter in the world. Since 2022, Vietnam has outstripped India to become the second-largest exporter of smartphones, only after China, with over 13% of the global market share.

Phones of all kinds and components have taken up an increasingly large proportion of Vietnam’s total import and export turnover over the years. According to statistics, the export turnover of phones of all kinds and components in 2010 only reached 2.3 billion USD, but by 2023, this category had earned more than 52.3 billion USD. It also ranked second in export value, only after computers, electronics, and components.

According to statistics from the General Department of Customs, in May, Vietnam's export of phones of all kinds and components reached more than 4.2 billion USD, a 7.4% increase compared to April 2024. In the first 5 months of this year, this commodity brought in more than 22.4 billion USD, a 11% increase over the same period last year.

China remains the largest customer of this commodity in the first 5 months of the year, with more than 4.68 billion USD, a slight decrease of 1% over the same period last year. Apart from China, the main markets for phones and components were all sharply increasing imports of these products from Vietnam, including the US, South Korea, and the United Arab Emirates.

Specifically, the US ranked second with more than 4.62 billion USD, a 28.3% increase over the same period last year. South Korea was the third-largest market, with more than 1.4 billion USD, an increase of 10% in the first 5 months of 2024. Notably, the United Arab Emirates witnessed a 57% increase, reaching over 1.4 billion USD in the first 5 months of the year.

Vietnam's incredible rise can be attributed to the rapid growth of the smartphone market in the US, the largest importer of mobile phones. From 2018 to 2022, Vietnam's market share in smartphone imports from the US doubled from 9% to 18%.

Experts predict that in 2024, the global smartphone market will be more optimistic, with an estimated 1.17 billion smartphones sold. Phones integrating AI and VR technologies will appear, along with fierce competition between Apple and Samsung.

According to experts, to further expand Vietnam’s presence in the international market for phones and components, it is essential to have a long-term development plan, consider investment incentives for businesses, and support research, trial production, and trade promotion programs. In addition, it is necessary to review and improve legal policies, especially specific regulations on goods originating in Vietnam, and implement solutions to expand domestic and export markets.