Vietnam has quietly transformed itself into one of Asia’s fastest-growing electronics manufacturing centers. Once known mainly for garment and footwear exports, the country has successfully climbed the global value chain into high-tech sectors such as smartphones, computers, and increasingly — smartwatches and wearable devices. According to the latest Vietnam smartwatch export data, the total export value of smartwatches from Vietnam reached an impressive $19.53 billion in 2024, marking a 20% increase from the previous year. This figure reflects not only Vietnam’s growing technological capabilities but also its rising importance in the global wearable ecosystem.

Vietnam’s Smartwatch Export Performance and Market Reach

The country now ranks as the 4th largest exporter of smartwatches globally, holding a 9.8% share of the total global export value. The dominance of Vietnam smartwatch exports is primarily driven by global electronics giants shifting their manufacturing bases away from China to diversify supply chains.

Vietnam exports smartwatches to multiple destinations, with the United States, Netherlands, United Kingdom, and China being its largest markets. In 2024, the U.S. accounted for more than 55% of the total export value, followed by the Netherlands (7.5%) and the U.K. (3.8%). Other important destinations include Germany, Japan, and South Korea — reflecting Vietnam’s expanding footprint across advanced consumer markets.

This surge has been supported by favorable Vietnam export customs data, showing a significant increase in both shipment volumes and export values. The country exported over 73.29 thousand tons of smartwatches in 2024, indicating a solid rise in production capacity and global demand.

Key Smartwatch Suppliers in Vietnam

Behind this remarkable growth are some of the top smartwatch suppliers in Vietnam — global OEMs and ODMs that assemble devices for the world’s leading tech brands. According to Vietnam smartwatch export data 2024–25, the top manufacturers include:

  • LXVN (Luxshare Precision Industry Vietnam) – The leading exporter with $2.4 billion in shipments, primarily producing Apple Watch models and related components for markets like the USA and Hong Kong.

  • Luxshare ICT Vietnam Ltd. – Specializes in wearable PCBs and modules, contributing around $900 million in exports.

  • Pegatron Vietnam Co., Ltd. – Manufactures smartwatches for global brands such as Google and Asus, exporting roughly $700 million worth of products.

  • GoerTek Technology Vina Co., Ltd. – Supplies Apple Watch components, sensors, and fitness tracker modules, contributing $500 million to Vietnam smartwatch exports.

  • Samsung Electronics Vietnam – Plays a vital role in exporting smartwatch components and subassemblies to markets in South Korea, the U.S., and Europe.

These firms collectively account for over 70% of total smartwatch exports from Vietnam, as per the Vietnam export customs data. Most operate as OEMs for Apple, Google, and Samsung — a testament to the country’s integration into global supply chains.

Vietnam’s Smartwatch Export Data: A Decade of Growth

Over the past ten years, Vietnam smartwatch exports have grown exponentially. In 2014, the country exported just $723 million worth of smartwatches. By 2024, that figure had soared to $19.53 billion, representing nearly a 27-fold increase in a decade. This transformation highlights Vietnam’s remarkable progress from low-cost assembly to high-value electronics manufacturing.

The Vietnam smartwatch export data for 2025 (first two quarters) already shows exports worth $8.97 billion, suggesting another record-breaking year ahead. The forecast for the full year anticipates total exports exceeding $22 billion, fueled by production expansion at Luxshare, Pegatron, and GoerTek facilities.

Why Vietnam Leads in Smartwatch Manufacturing

Several factors explain Vietnam’s dominance in the smartwatch export sector:

  1. Strategic Location and Trade Agreements – Vietnam’s participation in trade pacts like the CPTPP, RCEP, and EVFTA offers exporters tariff advantages and easy access to major global markets.

  2. China+1 Manufacturing Strategy – Global brands are increasingly adopting a “China+1” approach to reduce overreliance on Chinese manufacturing. Vietnam’s political stability, skilled workforce, and cost competitiveness make it an ideal alternative.

  3. Industrial Clusters and Supply Chain Integration – Industrial parks in Bac Giang, Bac Ninh, and Hai Phong have become hubs for electronics manufacturing, hosting a network of component suppliers and smartwatch suppliers in Vietnam that streamline production efficiency.

  4. Rising Localization and Component Production – While high-end components such as chipsets and sensors still rely on imports, Vietnam’s localization rate is increasing. Domestic firms are now producing casings, straps, batteries, and PCBs, which enhances local value addition.

Market Trends in Vietnam’s Smartwatch Industry

  1. Surge in Global Demand: The worldwide demand for smartwatches and fitness wearables is growing at 8–10% annually. Vietnam’s share in this global boom continues to rise due to its reliable export infrastructure and high production capacity.

  2. Growth in Mid-Tier Segment: Mid-range smartwatch models priced between $100 and $250 are seeing strong demand. Smartwatch suppliers in Vietnam are expanding product lines to cater to this segment for Asian and Western markets.

  3. Technological Advancements: OEMs in Vietnam are incorporating advanced manufacturing technologies, including automation, AI-driven assembly, and precision engineering, which boost production efficiency and export competitiveness.

  4. Sustainability and ESG Focus: As global regulations on e-waste and emissions tighten, major exporters in Vietnam are investing in green manufacturing, renewable energy, and sustainable packaging.

Competitive Landscape of Vietnam Smartwatch Exports

The smartwatch manufacturing sector in Vietnam can be divided into three main tiers:

  • Tier 1: Global OEM/ODM Assemblers – Companies like LXVN, GoerTek, and Pegatron lead end-to-end smartwatch assembly and design for top brands such as Apple, Google, and Samsung.

  • Tier 2: Component & Module Suppliers – Firms like Luxshare ICT and Fenda Vietnam specialize in sensors, PCBs, and batteries, supplying Tier 1 assemblers.

  • Tier 3: Local & Regional Brands – Domestic firms like VinSmart target the Southeast Asian market with affordable, regionally customized models.

According to Vietnam export customs data, the top ten exporters account for nearly 95% of total shipments, underscoring the highly consolidated nature of the market.

Future Outlook for Vietnam Smartwatch Exports

Vietnam’s smartwatch manufacturing momentum shows no signs of slowing. Based on ongoing investment commitments and production expansion, the country’s smartwatch export value is projected to surpass $6 billion annually by 2025.

Additionally, with multinational companies establishing deeper local supply networks and increasing localization, Vietnam’s wearable technology industry is moving toward long-term sustainability. The next phase of growth will likely include:

  • Greater Component Localization – As domestic suppliers mature, dependence on imported parts will gradually decline.

  • Emergence of New Global Entrants – Companies like Google are exploring Vietnam as a key base for their next-generation wearables.

  • Expansion of Domestic Brands – Vietnamese firms such as VinSmart are positioning to capture local and ASEAN markets with affordable smart devices.

  • ESG-Driven Manufacturing – Compliance with global environmental standards will shape future export strategies.

Conclusion

Vietnam’s rise as a smartwatch export powerhouse is a reflection of its broader transformation into a high-tech manufacturing hub. The country’s success in Vietnam smartwatch exports underscores its capability to compete with traditional giants like China and South Korea.

Backed by global OEMs, strong government support, and an increasingly sophisticated supplier ecosystem, Vietnam has become a critical node in the global wearable technology supply chain. With consistent growth shown in Vietnam smartwatch export data, and the growing list of competitive smartwatch suppliers in Vietnam, the nation is set to solidify its role as one of the world’s leading smartwatch exporters in the coming decade.

For businesses seeking to explore this booming sector or identify top smartwatch suppliers in Vietnam, accessing verified trade insights through Vietnam export customs data can be the key to strategic partnerships and successful market entry.