Looking for a cheap iPhone 14? With cellphone demand in Vietnam plummeting, authorized Apple resellers have slashed prices. In fact, the only place you’ll find them for cheaper is the United States. Local media has reported some shops are offering them at close to import prices in order to move stock before another model is rolled out.
Falling iPhone prices have less to do with brand affinity and are instead tied to an overall downturn in smartphone sales. VnExpress received an industry report that found less than 2.5 million smartphones were sold in Vietnam during the first two months of 2023.
This is in line with global trends seen at the end of last year. Research from the International Data Corporation found smartphone sales fell by 18.3 percent worldwide during the final quarter of 2022. It was one of the most significant drops of the past ten years.
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The largest decline in Vietnam has come at the mid and affordable price points with sales of smartphones under VND5 million (US$212) plummeting by 60 percent in 2022 when compared to the previous year.
Economic challenges caused by a number of factors saw spending power shrink which has hurt this segment the most. Additionally, more stringent credit policies forced retail chains to cancel zero-interest installment payment programs.
There is also a need factor that must be considered. Those who have purchased a new smartphone during the past two or three years may be more willing to delay an upgrade since the improvement will likely be incremental at best. Buyers operating in a more prudent economic environment might no longer be sold on minor upgrades or features that would have enticed them in the past.
Looking ahead, many retail brands, including FPT Shop, told VNExpress that they are not expecting growth in smartphone sales to happen until next year.
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