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Consumer electronics grows 28.2% in Q3

Released at: 13:00, 26/11/2016

Consumer electronics grows 28.2% in Q3

Photo: Duc Anh

Strong performances seen in four of seven sectors in Vietnam's technical consumer goods market.

by Do Huong

The technical consumer goods (TCG) market in Vietnam registered a healthy increase of 15.3 per cent in the third quarter of 2016 compared to the same period last year, according to GfK Temax.

There were excellent performances in the consumer electronics (CE), telecommunications (TC), small domestic appliances (SDA), and major domestic appliances (MDA) sectors, which were up 28.2 per cent, 25.3 per cent, and 15.3 per cent, respectively. The office equipment and consumables (OE) sector was the most disappointing, with a decline of 26.2 per cent.

Vietnam’s technical consumer goods – sales value by category

Source: GfK Vietnam, November 2016

Consumer electronics

The CE sector rose 28.2 per cent in the third quarter compared to the same period of 2015.

This result was driven largely by the sector’s largest segment - panel TVs - which grew 32.1 per cent. Other segments - camcorders and home audio systems - also increased, by 50 per cent and 2.8 per cent, respectively.

Photography

All segments in the sector declined in the third quarter. The largest product group - digital cameras - fell 2.2 per cent year-on-year.

Major domestic appliances

Sales in MDA sector increased by 15.3 per cent in the third quarter year-on-year. All segments performed well and grew in the double digits. The washing machine product group was the star performer, up 21.1 per cent year-on-year. Sales in the cooling product segment - the largest in the sector - grew 12.2 per cent.

Small domestic appliances

In the third quarter all product groups in the SDA sector registered growth. The hair dryer and vacuum cleaner segments rose 51.4 per cent and 31.1 per cent, respectively, year-on-year. Finally, sales in the largest segment in the SDA sector - electric fans - increased 2.6 per cent.

Information technology

Vietnam’s IT sector declined by 10.1 per cent in the third quarter year-on-year. Each segment registered a fall, most notably the media tablet and desktop computing product categories, by 16.6 per cent and 16.1 per cent, respectively.

Telecommunications

The TC sector reported very healthy performance in the third quarter, with growth of 25.3 per cent year-on-year. The sector’s largest segment - smart and mobile phones - grew a significant 25.8 per cent.

Office equipment and consumables

All segments in the OE sector fell by double digits in the third quarter, with laser cartridges registering the largest loss, of 34 per cent year-on-year. The multifunctional devices and printer segments declined by 24.7 per cent and 16.9 per cent, respectively.

Overall, the OE sector was down 26.2 per cent year-on-year.

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