Electronics retailers bank on iPhone 15 to boost sales

Electronics retailers are hoping that the iPhone 15, which is set to be launched in a week, will help stimulate demand amid a challenging year.

As the smartphone market in Vietnam saw sales plunging 25% year-on-year in the first six months, major retail chains are preparing to compensate for the drop with the iPhone 15, which Apple will introduce on Sept. 12.

“The market really needs a boost this year, and that is why we hope the new iPhone will help stimulate spending,” said Nguyen Lac Huy, a representative of retail chain CellphoneS.

A representative of a different chain, who asked not be identified, said that smartphone sales in the last quarter often accounted for 30-40% of the year’s total and therefore there was a lot of expectation for sales to surge in the last three months.

Some chains said that they had completed 80% of the preparation work needed for the iPhone launch. Their sales and media team are now only waiting for Apple to reveal its product.

Last year, iPhone 14 made a new record in Vietnam with 55,000 units sold on the first day, equivalent to revenue of VND1.5 trillion ($62.27 million). The iPhone 14 Pro Max accounted for 80% of the sale.

However, retailers do not expect the iPhone 15 to exceed its predecessor in sales this year.

There will likely be less people willing to pay up to VND30 million for a smartphone this year due to tightened spending, said Nguyen Van Cong, a seller of Apple products with many years of experience in the industry.

Retailers already had to lower the price of the iPhone 14 early this year due to falling demand, he added.

The establishment of Apple Store Online in Vietnam also allows customers to make orders directly from Apple and retailers will have to compete in terms of prices and promotions.

FPT Shop, however, is confident that the new iPhone will help improve the financial figures of the chain.

“We expect the number of units sold will slightly exceed that of last year as we do not have any supply issues and our prices are better than Apple Store Online.”