Electronics retailers are banking on iPhone 15 to increase sales

As Vietnam’s smartphone market saw sales drop 25% year-on-year in the first six months, major retail chains are preparing to offset the decline with the iPhone 15, which will be introduced by Apple September 12.

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

A representative of another chain, who asked to remain anonymous, said that smartphone sales in the last quarter often accounted for 30-40% of the year’s total and therefore there was much expectation an increase in sales over the last three months.

Some channels reported having completed 80% of the prep work needed for the iPhone launch. Their sales and media team is no longer waiting for Apple to unveil its product.

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

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

There will likely be fewer people willing to pay up to VND30 million for a smartphone this year due to tighter spending, said Nguyen Van Cong, an Apple product salesman with many years of experience in the industry.

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

The creation of the Apple Store Online in Vietnam also allows customers to place orders directly with Apple and retailers will have to compete on prices and promotions.

FPT Shop is, however, convinced that the new iPhone will help improve the chain’s financial figures.

“We expect the number of units sold to slightly exceed last year as we have no supply issues and our prices are better than the Apple Store Online.”