IDC Reports: Printer Sales Boom in Vietnam

Market researchers at IDC (International Data Corporation) report the number of standalone and multifunction printers sold in Vietnam has grown dramatically. They claim 32.2% growth in the 4th quarter of 2012 compared with the previous quarter.  IDC says, “The growth mainly came from the strength of laser technology shipments, which increased by 45% quarter-on-quarter.” It is estimated that 77% of printers used in Vietnam, are laser. The inkjet printer market only grew 2% during the same 4th quarter.

Government departments, banks and purchasing officers in private companies all increased their purchasing. IDC says this is the reason for the dramatic growth.

The IDC report also says the number of multifunction (MFP) printers sold grew by 43% compared with the previous quarter. IDC found remarkable price reductions on MFPs—amounting to about US$150—were the main reason for their popularity. Many original equipment manufacturers (OEMs), sales channels and shops ran attractive promotions to lure potential buyers. MFPs are also chosen, particularly by government departments, because they are easy to use and replace. Some computer and electronics shops have also started to sell printers, stimulating the market to be more competitive.

In Vietnam, as in other places around the world, inkjet printers are used mainly in the home, and laser printers are used primarily in offices, IDC explained. Tu Dang, Market Analyst for Imaging, Printing and Document Solutions, IDC Vietnam noted, “The cheapest usage cost possible and any-type-of-quality print is acceptable.” This is why laser remains dominant in the office. However, Tu Dang says, the sellers of inkjet printers are becoming more aggressive in Vietnam. Significant improvements in inkjet technology include lower printing costs, WiFi and cloud printing connectivity, and security.

The sales boom in the 4th quarter, however, was not sufficient to make 2012 a better year. The sharp decline during the first 6 months—caused by economic setbacks—meant the total number of printer sales for 2012 dropped 7.8% compared with 2011.

IDC had forecast that Vietnam would still be facing an economic slump in 2013, but the demand for office equipment has continued to be encouraging. IDC now expects the printer and MFP market will grow by 14.9% in 2013, “in which laser will increase by 17.7%, and inkjet will increase by 7%.” IDC says the ongoing promotional activity by OEMs and shops will drive this. But Tu Dang warns the shops will need to adjust their strategies in order to keep their customers. These are still tough financial times in Vietnam.