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Vsmart kicks Xiaomi out of top 5 smartphone brands in Q2

The Vietnamese brand ranked fourth in terms of smartphone sales in the second quarter of 2020.

Vsmart, a Vietnamese smartphone brand, kicked Xiaomi from the third place in the first quarter (Q1) this year out of top five smartphone brands in terms of sales volume in Q2 in Vietnam, according to the latest report on the smartphone market in Q2 2020 by market research firm Canalys.

 Source: Canalys

Entering the market at the end of 2018, Vsmart, owned by the Vietnamese conglomerate Vingroup, has risen to the fourth place with a market share of 11% in Q2. The position was occupied by Realme in Q1 2020.

Focusing on the low segment which is extremely competitive in the market, Vsmart overtook some Chinese brands to rank third in Q1 2020, according to GfK. It expects to grab a 30% market share this year and plans to reach out to the US market, Vice Chairwoman of Vingroup Le Thi Thu Thuy told an interview with CNN in July. 

According to Canalys' report, Samsung led in terms of smartphone sales volume in Q2 in Vietnam, taking a 33% market share. Its smartphone sales in Vietnam in Q2 increased 4% over the same period last year. 

Oppo ranked second with a 17% market share but the number of smartphones sold decreased by 26% compared to Q2 2019. Meanwhile, China's Vivo surged with impressive growth, 246% over the same period in 2019.

Realme was at the fifth position with a 9% market share, with sales up 63% over the same period last year.

Apple was not listed in the top 5 smartphone vendors in Vietnam.