Electronics firms face stiff competition in Vietnam

The recent closure of a number of Topcare stores following a series of big-name shutdowns, was evidence of the fierce competition in the electronics retail market in Vietnam.

Before Topcare, the electronics market witnessed the withdrawal of Wonder Buy in 2011, Best Caring in 2012, HomeOne in 2013, and Viet Long in 2014.

“A lot of enterprises are forced to shut up shop due to economic difficulties these days. However, the electronics market poses more risks with very fierce competition,” said chairman of Ha Noi Supermarket Association, Vu Vinh Phu.