GfK remains optimistic about Vietnam’s electronic market

The market research firm GfK was still optimistic about the domestic technology market in the second quarter with a year-on-year growth rate of 6 percent, according the latest report.
The research of Technical Market Index (TEMAX), conducted at some 1,000 retailers and major retail chains nationwide, showed a strong growth rate of 30 percent and 17 percent from the same period last year in sectors of Telecommunication and Major Domestic Appliances (MAD) respectively. Meanwhile, minus growth rates were seen in other sectors.

LCD TV sales mainly contributed to the MDA sector’s growth rate of 17 percent, said Tran Khoa Van, director of GfK Vietnam. Washing machines, the best selling product of the sector, had a turnover of 3.7 trillion dong.

Despite the slow growth rate during the first six months, the information technology sector recorded a turnover of some 5 trillion dong thanks to laptops’ high rate of 50 percent.

Small Domestic Appliances’ turnover in quarter two was 1.4 trillion dong, down 10 percent from the same quarter of 2010, caused by a reduction of 15 percent in air-conditioner sales.
Saigon Times Daily

Tags: Vietnam electronic market

Posted by VBN on Aug 24 2011. Filed under Appliances & Electronics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry