Chinese firms seen dominating local home appliances market

China’s second-biggest e-commerce firm JD.com Inc. has become the largest shareholder of Vietnam’s e-commerce platform Tiki.vn, proving Vietnam is a potential Southeast Asian market.

JD.com also launched an online retail company in Indonesia two years ago and cooperated with Central Group of Thailand to set up a joint venture worth US$500 million in this country.

Meanwhile, Alibaba-owned online retailer Lazada Vietnam has become an authorized distributor of all genuine Apple products in Southeast Asia since early this year. The e-commerce platform Lazada.vn offers a wide range of Apple products, including iPhone, MacBook, iPad, Apple Watch, Beats, Apple TV and other accessories.

Apple stores on Lazada are designed to have a similar interface to the Apple home page.

Until March 5, Lazada offers a discount of 15% on all Apple products for Citibank account holders, interest-free instalments on products costing more than VND3 million (over US$132) and free shipping service for Apple stores cooperating with Lazada.

Many electronics and home appliances retailers are offering their stakes. After the acquisitions of Nguyen Kim by Central Group and Tran Anh Digital World Co. by The Gioi Di Dong, remaining local home appliances retailers are HC, MediaMart, Pico, Thien Hoa and Dien May Cho Lon.

A businessman in the sector said The Gioi Di Dong would acquire another home appliances retailer.

The Vietnamese electronics and home appliance market is dominated by three major firms in the sector with a nearly-60% market share, said former Tran Anh chairman Tran Xuan Kien.