New appliance brands enter VN
New appliance brands enter VN
More and more new appliance brands from many countries have been entering Viet Nam over the last few years. 
Hafele, Beko and Galanz are among the brands consumers have only gotten to know in the last couple of years.
They sell a wide range of products such as ovens, rice cookers and refrigerators at prices that are 20-30 per cent lower than their established competitors’.
Hoang Minh Kiet, a business executive at electronic appliances distributor Tan Minh Phat company, explained that the new brands are willing to take a loss in the beginning.
Turkey’s Beko, which not many consumers are familiar with, has recently introduced several product lines like refrigerators, washing machines and microwave ovens.
Phung Dinh Luc, technical director of Japanese brand Sharp, said the technology for manufacturing TVs has become commonplace and so there are many brands in the market.
Foreign brands are also shipping components to Viet Nam for assembly, and so there are many relatively cheap appliances available now, he said.
Various brands have been reaping success, and though currently there is a lull in the purchase of household appliances, many are confident about their products, he said.
Vu Duong Ngoc Duy, general director of Viettronics Tan Binh JSC, said his company is working with Japanese electronic brand Sansui to make TVs in Viet Nam and sell at a competitive price.
Though the market is now struggling due to COVID-19, it is expected to recover soon, and consumption of appliances would recover, he said.
While many consumers are used to Japanese and Korean brands and tend to be wary of unfamiliar brands, low-priced appliances are often well received in rural areas.
Retail chains have identified rural areas as a lucrative market with non-demanding customers who do not yet own many electronic appliances whereas large cities have little room for new brands.
