iPhone 17 craze in Vietnam: Strong demand, high pressure for retailers

For the first time, Vietnam was included in Apple Inc’s global release of the iPhone 17 series.

Vietnamese consumers previously had to wait days or weeks after global launches to receive new iPhone models.

On the morning of September 19, major Apple-authorized retailers in Vietnam simultaneously launched sales and began deliveries of the new iPhone 17 models.

The early launch triggered a surge in demand, but Apple’s initial stock allocation was limited, creating major stress for retailers, said Ly Trung Dung, director of mobile telecommunications and accessories at mobile retailer FPT Shop.

As a result, most retailers were only able to fulfill a small number of pre-orders in the early days.

Some, like TopZone, owned by mobile retail giant The Gioi Di Dong, even held lotteries to decide which customers could purchase the iPhone on the launch day, despite some versions costing nearly VND64 million (US$2,424).

Many customers were thrilled to be among the first to own the iPhone 17.

Hoang Phuong from Ho Chi Minh City shared, “For years, it has been a tradition in my family to upgrade our iPhones as soon as they’re available. This year, I bought three iPhone 17 Pro Max units for the whole family.”

Similarly, Nguyen Hoang Khanh, also from Ho Chi Minh City, added, “Every time Apple launches a new product, I buy from FPT Shop because I always get it early. Plus, they offer benefits like price support, zero-percent interest installment plans, and lifetime warranty packages.”

Although Apple did not officially disclose iPhone 17 sales figures in Vietnam, initial reports suggest that around 250,000 units have been ordered through Apple authorized resellers in the country.

This excludes purchases from gray-market importers and Apple’s own online store in Vietnam.

According to Di Dong Viet, 65 percent of pre-orders were for the iPhone 17 Pro Max, with the 256GB version being the most popular. As for color choices, 60 percent chose Space Orange.

For other models, 20 percent of customers chose the iPhone 17 Pro, with 50 percent of those opting for Space Orange.

Eleven percent went for the iPhone 17, with Lavender Purple being the top choice (37 percent).

Only four percent selected the iPhone Air, with Cloud White being the favorite (36 percent).

Increasingly fierce competition

This year’s iPhone launch in Vietnam has seen several major changes.

Vietnamese customers can now own new iPhones at the same time as global markets, eliminating the need for gray-market imports.

Demand for the iPhone 17 has increased fivefold compared to the iPhone 16 in 2024.

The retail landscape has become more competitive due to high demand and limited supply.

Nguyen Ngoc Dat, chairman of Di Dong Viet, noted that launching simultaneously with the global market made Vietnam's market particularly vibrant.

Customers were extremely eager, creating a major supply-demand imbalance, he said.

This imbalance has pushed retailers to spend more on logistics, staffing, and customer service to keep up.

Early launches require maximum manpower to ensure prompt delivery and high-quality customer experiences, from store presentation to after-sales service, added Ly Trung Dung.

According to Anh Hong, director of e-commerce at 24hStore, the large volume of pre-orders has made early delivery, inventory control, and distribution across branches very stressful.

Any delays or stock shortages directly affect the chain’s reputation and customer satisfaction, she said.

Additionally, competition between retailers is heating up, especially with zero-percent interest installment plans, trade-in support, and payment discounts.

“If not carefully managed, financial and marketing costs can eat into profit margins. High-end models have limited availability, so even small losses on each order can have a big impact,” Hong added.

Nguyen Lac Huy from CellphoneS explained that Vietnam’s iPhone retail market can be divided into three tiers:

- Tier 1: Apple authorized resellers, such as The Gioi Di Dong, FPT Shop, and CellphoneS, who buy directly from Apple but face strict policy regulations.

- Tier 2: Resellers, including Di Dong Viet, Minh Tuan Mobile, who source from distributors.

- Non-authorized retailers who rely on secondary markets and imported products.

Each tier comes with its own advantages, challenges, and strategic approaches.

The iPhone market is highly segmented and far more competitive than other phone brands, which mostly focus on price and discounts during launch periods, said Huy.

Shrinking profit margins for retailers

Nguyen Ngoc Dat emphasized that competition among retail chains is fiercer than ever, with everyone trying to offer more benefits and value to customers. 

However, this has led to increasingly thinner profit margins—sometimes just one to two percent.

Ly Trung Dung also noted that iPhone demand in Vietnam continues to grow by double digits annually. 

With more retailers, distribution channels, and Apple’s own online store, competition is intensifying, not just on price, but also on service quality.

“Consumers now have more choices and higher expectations, especially regarding after-sales service, product exchanges, and quick financing options,” Dung added.

Vietnamese consumers spend over $454.6mn on iPhone 17

The 256GB iPhone 17 Pro Max is priced at nearly VND38 million ($1,439), while the 2TB version costs close to VND64 million ($2,424).

The base model of the iPhone 17 Pro starts at nearly VND35 million ($1,326) and goes up to VND48 million ($1,818).

With 85 percent of customers opting for iPhone 17 Pro and above, Vietnamese consumers are estimated to have spent between VND8.75 trillion ($331.5 million) and VND12 trillion ($454.6 million) on iPhone 17 purchases, excluding sales from gray-market shops and Apple’s online store.

The real figure is likely significantly higher.