“Vietnam’s ‘Goldmine’ Deal: US Spends Over $6 Billion; Making Vietnam the Second Largest Exporter with Tax Exemptions.”

According to statistics from the General Department of Vietnam Customs, the export turnover of telephones and components in July alone reached over $5.56 billion, a 24% increase compared to June.

Cumulative exports of this strategic commodity in the first half of 2025 brought in more than $32.4 billion, a slight decrease of 0.4% compared to the same period last year. This commodity currently ranks second in terms of export turnover.

Well-known phone brands with high export turnover include Samsung, Google, iPhone, and Xiaomi. Leading phone component exporters are Samsung, LG, and Sony.

Looking at the market, the top three importers of telephones and components from Vietnam are the three tech powerhouses: China, the US, and South Korea. Specifically, China leads the way with over $6.56 billion in imports, an 11.3% decrease compared to the first seven months of 2024.

The US is the second-largest export market, with a turnover of over $6.47 billion, a slight decrease of 0.3% compared to the same period last year.

South Korea is the third-largest market for Vietnam’s telephone and component exports, with a turnover of over $2.35 billion, an 8% increase compared to the first seven months of 2024.

For the US market, telephones and components are among the items specifically exempted from retaliatory tariffs. Specifically, the US will waive tariffs on important consumer electronics such as smartphones, laptops, hard drives, and memory chips. In addition to these electronics, the Trump administration also exempted tariffs on machinery for semiconductor production, semiconductors, and solar panels.

Vietnam is the second-largest exporter of telephones and components in the world, with the US and China being the largest buyers. According to a report by HSBC, since 2021, Vietnam’s smartphone market share has increased significantly. Vietnam has captured a 13% market share, quickly surpassing India to become the second-largest smartphone exporter in the world, second only to China.

Vietnam is becoming increasingly attractive to global phone manufacturers. The CEO of Apple has visited Vietnam, proposing to enhance cooperation and high-quality investment, including committing to buying more components from local partners and supporting innovation and increased spending on suppliers in Vietnam.

Roh Tae-moon, CEO of Samsung Electronics, recently shared that as of last year, Samsung’s total investment in Vietnam reached $23.2 billion. In addition to Samsung Electronics, other Samsung entities, such as Samsung Display and Samsung Electro-Mechanics, have been, are, and will continue to expand their investments in Vietnam.

He also announced that by the end of June 2025, Samsung’s mobile phone factories in Bac Ninh and Thai Nguyen had reached a milestone of producing 2 billion mobile phones in 16 years since production began in April 2009.

Revenue in the first half of 2025 reached $31.8 billion, with exports reaching $28 billion. Notably, the Galaxy Z Fold 7 “Made in Vietnam,” launched in July, is gaining popularity in global markets, including the US and Europe.