Buzz
According to information released by the Vietnamese news site Vietnam News at the Analyst meeting event, Xiaomi's official distributor of phones in Vietnam - Digiworld, revealed to BVSC Securities Company that the leading Chinese technology firm - Xiaomi is collaborating with a local construction company in Vietnam to establish a factory assembling electronic devices in Hải Phòng, scheduled to commence operations around mid-June this year.
Xiaomi plans to inaugurate a manufacturing plant in Hải Phòng
In recent years, Vietnam has consistently been an ideal destination for large foreign corporations and enterprises, not only due to its significant development potential but also because the S-shaped country has demonstrated the highest level of stability and safety in the face of natural disasters, pandemics, and other challenges.
Xiaomi has been emerging as a significant force not only in the domestic market but also globally for over the past 5 years. Established in April 2010, Xiaomi has become a reputable name among consumers worldwide after nearly 11 years in the market. It stands as the third-largest reputable phone manufacturer globally, following Samsung and Apple (according to TrendForce).
Despite facing the challenges of the pandemic in 2020, Xiaomi managed to produce over 146 million smartphones worldwide, capturing more than 11% of the market share.
In the Vietnamese market, Xiaomi holds a 12% share of the smartphone market nationwide, ranking third after Samsung and Oppo (according to Canalys).
The establishment of Xiaomi's assembly plant in Hai Phong can be seen as a strategic move benefiting both parties. For Xiaomi, it helps significantly reduce costs such as labor, land rental, transportation, taxes, etc. For Vietnamese consumers, it shortens the time to access new products, warranty, and maintenance, and notably stabilizes pricing.
As of now, Xiaomi has established numerous official stores in the Vietnamese market through collaboration with Digiworld. These stores serve as showcases and retail outlets for Xiaomi accessories such as backpacks, Mi Box, VR headsets, desk lamps, speakers, headphones, and essential household items like air purifiers, smart scales, surveillance cameras, and the latest smartphone models such as Xiaomi 13 Pro 5G.
It is anticipated that following the completion of the assembly plant, the brand will also open a series of additional stores across the country to better cater to the shopping and experiential needs of users, particularly for Xiaomi's phone lines like Xiaomi Mi and Xiaomi Redmi.
