Vietnam tech retailer Hnammobile to shut down after nearly 2 decades in business

“This was an extremely difficult decision, but in the current challenging environment, we are forced to bring this journey to a close,” the company said in a statement.

The Ho Chi Minh City-based company, once known for selling consumer electronics at competitive prices, said it will continue to honor warranty obligations for previously-sold products in accordance with original terms.

Founded in 2006, Hnammobile grew rapidly during the 2010s, peaking at around 20 stores in Ho Chi Minh City by 2017. 

The company was once a popular destination for buyers seeking affordable smartphones, including Apple products.

Industry analysts said the retailer struggled in recent years amid intensifying competition in Vietnam’s consumer electronics market and increasing pressure in the Apple retail segment.

Hnammobile was not granted Apple Authorized Reseller (AAR) status in Vietnam, a designation that provides access to official supply channels and competitive pricing. 

The absence of AAR status is seen as a major disadvantage for retailers competing in the iPhone-dominated premium smartphone market.

The company’s closure underscores the increasing difficulty for independent retailers in Vietnam’s tech sector, despite rising demand for smartphones and growing consumer spending.