H1 surge in phone, laptop sales

Vietnam’s largest electronics retailers, Mobile World and FPT Shop, saw H1 mobile phone and laptop sales in the first half of the year.

Mobile World posted total revenues of nearly VND62.5 trillion ($2.7 billion) and pre-tax profits of more than VND2.5 trillion in the six-month period.

Of this the sales of mobile phones, laptops and relevant accessories was over VND15.6 trillion, a year-on-year increase of 7 percent.

The Mobile World management board said the sales performance was really impressive because hundreds of the company’s stores have had to temporarily shut down or restrict sales amidst the Covid-19 pandemic.

The FPT Digital Retail Joint Stock Company, which runs FPT Shop, earned total consolidated revenues of over VND9 trillion and consolidated before-tax profits of VND76 billion in the first half of this year, realizing over half and two-thirds of its annualized plan, respectively.

Up to 85 percent of the total revenues came from mobile phone, laptop and accessories sales, which grew 13 percent year-on-year.

While mobile phone sales grew 16 percent on year for Mobile World and laptop sales remained unchanged, FPT Shop saw a 31 percent year-on-year surge in laptop sales to over VND1.3 trillion.

As of end June, Mobile World had 936 stores, up 23 stores over late 2020, but down from nearly 1,100 stores in late 2017. Meanwhile, FPT Shop had 625 stores, up 30 stores against late last year.

According to Counterpoint Research, smartphone sales in Vietnam in the second quarter of this year grew 11 percent year-on-year.

Meanwhile GfK has reported that sales of gaming laptops in the country grew 217 percent in the first five months of the year.