Mr. Nguyen Lac Huy, a representative of CellphoneS, said that compared to the beginning of the year, the exchange rate has increased by about 10%. Domestic partners and suppliers are still keeping prices the same due to having reserved goods sources. However, if the exchange rate continues to hold or increase further in the near future, the possibility of many items increasing in price will be very high.
“Major phone brands usually fix the annual exchange rate, unless there are major fluctuations. For example, in 2023, the exchange rate also increased by 10% and many brands have adjusted product prices or reduced support. If the exchange rate continues to remain high in the near future, it is very likely that brands will adjust prices up as in 2023” – Mr. Huy commented.
The exchange rate increase has little impact on consumer electronics
According to Mr. Nguyen The Kha, Commercial Director of FPT Shop system, the company has forecasted about the source of goods and has a plan to prepare in advance. Therefore, currently, FPT Shop still ensures to keep prices stable and has not recorded any impact or influence from the increase in exchange rates. However, if the exchange rate continues to remain at a high level, in the near future, the technology goods market may increase input prices by about 2%-3%.
Mr. Kha said that FPT Shop has cooperated with suppliers for a long term to reach an agreement on price stabilization in order to help customers not be affected by this factor in the short term, keeping the market stable. Customers will not be much affected by this exchange rate fluctuation.
A representative of Mobile World also confirmed that the exchange rate had increased but had not yet affected the company’s product selling prices. Many big brands such as Samsung already have factories in Vietnam, so transactions are only in Vietnamese currency. For other product lines, suppliers have planned to reserve enough inventory to sell in the second quarter, so they are currently not affected by the increase in exchange rates. However, by the end of the second quarter, it is predicted that there will be fluctuations in product prices.
According to Mr. Doan Van Hieu Em, a member of the Board of Directors of The Gioi Di Dong, the increase in exchange rates has not yet had an immediate impact on the selling prices of goods because most of the products are purchased in Vietnam and sold in Vietnamese currency; imported goods are not much.
