Tech-product distributors, retailers see strong rebound in July
Mobile phone and laptop distributors and retailers reported good revenue and profit in July, showing that business activity of companies operating in this field are on the rebound from the COVID-19 pandemic.
Hanoi (VNA) – Mobile phone and laptop distributors and retailers reported good revenue and profit in July, showing that business activity of companies operating in this field are on the rebound from the COVID-19 pandemic.
According to surveys by Bao Viet Securities JSC (BVSC) with DigitalWorld JSC (DGW) and PetroVietnamGeneral Services JSC Corporation (PET) - the two big laptop and mobile phone distributors inVietnam, leaders of these firms said that they all saw signs of recovery in thedemand for laptops and mobile phones in July.
The revenue from laptop sales of DGW in the month increased by5% over the same period last year, and is forecast to continue recoveringin August and September. Meanwhile, mobile phone revenue surged 105% year on year as consumption last year was heavily affected by pandemic-induced restrictions.
PET also confirmed the same trend although it has not yetreleased its preliminary business data for July.
According to BVSC's estimates, mobile phone revenue in thesecond quarter of 2022 in Vietnam increased by 15.2% year-on-year, reaching 26.8trillion VND (1.145 billion USD), but was down 4.2 trillion VND compared to that reportedin the first quarter.
Vietnam’s mobile phone revenue is estimated to grow 13.4%year-on-year in the first half of 2022 to 57.9 trillion VND.
However, according to SSI Securities JSC (SSI), inflation has affected purchasing power, forcing consumers to cut spending on non-essentialitems from the second quarter of 2022.
SSI forecasts that big companies will gain more market sharethanks to their strong bargaining power with suppliers, allowing them tomitigate the impact of higher cost of goods and thereby offer more discounts tocustomers in the context of inflationary pressure./.
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Illustrative image (Photo: VNA) 
