Vietnam Smartwatch Exports Surge as the Nation Becomes a Global Hub

Vietnam has emerged as one of Asia’s fastest-growing centers for high-tech manufacturing, particularly in the smartwatch and wearable device segment. Once primarily recognized for garment and footwear production, the country has evolved into a leading exporter of electronic goods and smart devices, driven by foreign investment and advanced manufacturing capabilities. According to Vietnam Smartwatch export data, the nation exported smartwatches worth $19.53 billion in 2024, a remarkable 20% increase from the previous year.

This strong performance cements Vietnam’s position as the 4th largest smartwatch exporter in the world, holding a global export share of 9.8%. The rise of Vietnam smartwatch exports reflects a broader transformation — from low-value assembly to high-value, technology-driven production.

The Global Reach of Vietnam’s Smartwatch Exports

Vietnam exports smartwatches to diverse destinations across North America, Europe, and Asia. The United States is the top destination, accounting for 55% of total export value (around $10.74 billion). European nations such as the Netherlands, the United Kingdom, Germany, and Poland, along with Asian powerhouses like China, Japan, and South Korea, are also major importers of Vietnamese smartwatches.

These export figures highlight the global confidence in Vietnam smartwatch exports, which have gained popularity for their quality, design precision, and competitive pricing. The country’s ability to meet international quality standards has positioned it as a preferred manufacturing base for global technology brands.

Leading Smartwatch Manufacturers in Vietnam

Vietnam’s rise as a smartwatch powerhouse is largely driven by the presence of top-tier global manufacturers. According to Vietnam smartwatch export data, over 70% of the country’s export value is concentrated among the top three players: LXVN (Luxshare Precision Industry Vietnam), Luxshare ICT Vietnam Ltd, and Pegatron Vietnam Co., Ltd.

1. LXVN (Luxshare Precision Industry Vietnam)
   LXVN leads Vietnam’s smartwatch export market, producing high-end devices like the Apple Watch Series 9 and Apple Watch SE. With large-scale automated facilities in Bac Giang and Bac Ninh, LXVN plays a vital role in Apple’s global supply chain.

2. Luxshare ICT Vietnam Ltd
   A sister company of LXVN, Luxshare ICT specializes in smartwatch components, connectors, and wearable PCBs. Its deep expertise in miniaturized electronics makes it a core supplier to multiple global brands.

3. Pegatron Vietnam Co., Ltd.
   The Taiwanese electronics giant manufactures smartwatches for Google, Asus, and other leading brands. Its Hai Phong factory is one of Vietnam’s most advanced electronics facilities, reflecting the nation’s capability for high-tech production.

Other notable smartwatch manufacturers in Vietnam include GoerTek Technology Vina, Samsung Electronics Vietnam, Fenda Vietnam Technology, Foxconn Interconnect Technology, BYD Vietnam Electronics, and VinSmart. These companies collectively strengthen the country’s reputation as a reliable, high-capacity production hub.

Smartwatch Suppliers in Vietnam: Building a Robust Ecosystem

The success of Vietnam’s smartwatch industry goes beyond the big names. A growing network of smartwatch suppliers in Vietnam provides essential components such as casings, straps, PCBs, batteries, and sensors.

Companies like Fenda Vietnam Technology Co., Ltd. and Foxconn Interconnect Technology Vietnam specialize in producing modules and accessories that feed into the supply chains of larger OEMs like Luxshare and Pegatron. Local Vietnamese firms are also entering the smartwatch value chain, focusing on smaller components, packaging, and assembly.

This gradual localization is helping Vietnam reduce import dependency and add more domestic value to its exports. In the next few years, industry experts expect the local content in Vietnam smartwatch exports to rise from around 25% to nearly 40%, boosting both employment and export competitiveness.

Market Dynamics Driving Growth

The growth of Vietnam smartwatch exports can be attributed to several powerful market and policy dynamics:

1. Global Supply Chain Diversification
   As multinational companies move production out of China due to rising costs and trade tensions, Vietnam has become an attractive alternative. Apple, Google, and Samsung are expanding their operations in Vietnam, giving the country a strategic role in the global wearable supply chain.

2. Trade Agreements & Tariff Advantages
   Vietnam’s membership in major trade pacts — such as the CPTPP, EVFTA, and RCEP — allows its smartwatch exports to enjoy tariff-free or preferential access to key markets in the EU, Asia-Pacific, and North America.

3. Skilled Workforce & Infrastructure
   Vietnam offers a skilled workforce, improving industrial infrastructure, and strong government support for electronics manufacturing. These factors make it a cost-effective yet high-quality production hub.

4. Rising Domestic Demand
   The local market for smartwatches in Vietnam is also expanding. In 2025, Garmin captured 32% of the domestic market, followed by global brands like Samsung and Xiaomi. Growing consumer interest in health and fitness tracking is fueling further demand.

Historical Growth of Vietnam Smartwatch Exports

Vietnam’s smartwatch exports have grown exponentially over the past decade. From $723 million in 2014, exports surged to $19.53 billion by 2024, showcasing a compound annual growth rate (CAGR) exceeding 35%. Even during global supply chain disruptions, the sector displayed resilience and adaptability.

This growth trajectory highlights Vietnam’s successful transition from a low-cost assembly base to a high-tech export hub integrated with global electronics ecosystems.

Future Outlook: Vietnam’s Smartwatch Exports in 2025 and Beyond

Looking ahead, Vietnam smartwatch exports are expected to exceed $5.5–6 billion in 2025, with a growth rate of 18–20% annually. The expansion of Luxshare, Pegatron, and GoerTek’s production capacities will drive this momentum, alongside increased investment in component manufacturing and supply chain localization.

The government’s focus on green production, ESG compliance, and digital transformation will further strengthen Vietnam’s competitiveness in global trade. Moreover, the rise of local brands like VinSmart and new Vietnamese startups developing smartwatches tailored to regional preferences may soon diversify the market landscape.

Challenges and Opportunities Ahead

Despite its success, Vietnam faces challenges that require strategic attention. These include reliance on imported chips and sensors, the need for workforce upskilling, and compliance with environmental regulations for e-waste management.

However, these challenges also present opportunities — for instance, developing domestic semiconductor and sensor manufacturing industries could boost Vietnam’s value chain participation and export margins.

Conclusion

Vietnam’s smartwatch export story exemplifies the nation’s transformation into a high-tech manufacturing powerhouse. Backed by strong foreign investment, modern infrastructure, and global partnerships, Vietnam smartwatch exports are reshaping global supply chains in the wearable technology sector.

With a growing pool of smartwatch manufacturers in Vietnam and an expanding base of smartwatch suppliers in Vietnam. The country is poised to become Asia’s next big technology production hub. Supported by robust Vietnam Smartwatch export data, it is evident that Vietnam is not just an assembly center. It’s now a key innovation and production hub driving the future of wearable technology.

For detailed insights or customized trade reports on Vietnam exports and smartwatch industry trends, visit TradeImeX or contact info@tradeimex.in for verified shipment data and supplier databases.