Revealing Apple’s revenue in Vietnam market

The 2022 financial report of The Gioi Di Dong and FPT Retail has partly revealed the revenue in Vietnam that “golden eggs” products such as iPhone and MacBook bring to Apple.

As Apple’s largest retail partner in Vietnam, MWG’s payment for “Apples defect” partly reveals the purchasing power of Vietnamese users for products such as iPhone, iPad, and MacBook. Image: Phuong Lam.

According to the 2022 financial report of Mobile World (MWG), the business has announced short-term payables to suppliers such as Samsung, Apple, LG, Sony or Panasonic.

In which, MWG has to pay more than VND 1,255 billion for Apple Vietnam Co., Ltd., a figure that shows the great value of the source of goods that this retailer imports from Apple. The enterprise also pays many other suppliers such as LG Electronics Vietnam Hai Phong (467 billion VND), Panasonic Vietnam (419 billion VND), Sony Electronics Vietnam (231 billion VND).

Notably, as of March 31, 2022, the short-term MWG payable to Apple Vietnam Co., Ltd was only close to 162 billion VND. This number has increased by regarding 1,094 billion VND in the last 3 quarters of 2022, showing that businesses have spent a lot to import Apple products in the year-end period, which is likely to be the newly launched iPhone 14 series.

Revenue of Apple products at MWG is also evident through the revenue of TopZone, Apple’s high-end retail chain (APR) in Vietnam. In the whole year of 2022, TopZone has brought in more than 2,600 billion VND revenue for MWG, equivalent to average 216 billion VND/month, doubled compared to 2021.

According to MWG, along with the rise of TopZone, the total revenue of Apple products across the Mobile World / Dien May Xanh system in 2022 has grown by regarding 40% over the same period.

FPT Retail (FRT) is also another major partner of Apple in Vietnam with retail chains such as FPT Shop and F.Studio. According to the enterprise’s 2022 financial statement, the payable to Apple Vietnam Co., Ltd is up to 1,223 billion VND. Thus, in 2022, Apple has collected nearly . from two major retailers in Vietnam 2,500 billion VND.