Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates

Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Stores plan sales of electronics   2009-10-22 - Viet Nam News

Electronics stores in major cities have announced clearance sales to make room for the latest models. 

Customers inspect televisions at the Ha Noi Trading Corporation’s supermarket of electronic products. Electronic stores in major cities are planning sales to clear room for new stock.

Many shops in HCM City, like Thien Hoa, Nguyen Kim and Ideas, are offering discounts of up to 40 per cent on many kinds of goods, especially LCD television sets, digital products and home appliances.

Nguyen Minh Thu, business director of Thien Hoa Electronics and Interior Decoration Product Centre, said many electrical and electronic products and household electronics had reached saturation point, with only LCD TVs continuing to have high demand due to replacement buying.

With shops also offering promotions, TV sales had increased by 15-20 per cent compared to the same period last year, he said.

LCD TV prices have dropped by 10-25 per cent this year, he said, adding a 32-inch TV was now priced at VND6-6.5 million, and slimfit CRT sets at VND1.7-2.3 million.

In Ha Noi, Pico Plaza Electronic Supermarket was offering LCD TV buyers a discount of up to VND1 million plus attractive gifts.

Nguyen Minh Hai from its sales division said revenues had gone up significantly since the launch of the promotion.

Electronic stores said the promotions involved mostly products from 2008 or early 2009 as producers prepare to launch new models for the year-end shopping season and shops sought to clear their shelves to stock new ones.

Under the Viet Nam-Japan Economic Partnership Agreement, thousands of goods imported from Japan will see taxes either reduced or scrapped.

Thu said though most well-known Japanese electronic brands were already present in Viet Nam, importers did not get them from Japan due to high prices and taxes. Most Japanese brands imported to Viet Nam were produced in Southeast Asia.

Thus, the change in the tax regime would create an opportunity to import high-tech products directly from Japan, he added.

A representative of Nguyen Kim in Ha Noi said his shop planned to step up imports from Japan since Vietnamese preferred Japanese goods.

Japanese electronic companies in Viet Nam, like Sony Sharp, and Sanyo, were shifting to import and sell electronic products rather than producing or assembling them in Viet Nam.

But Thu clarified: "This agreement will not cause a sudden reduction in price since import taxes will fall gradually. The tax on TVs, for instance, will fall from 40 per cent to 36 per cent before being abolished in 2017."

Other news

65-storey building project kicked off in Hanoi   2009-10-22

Eximbank to become sixth listed bank   2009-10-22

HCM City: Top end retail space grows   2009-10-22

Dollars at your doorstep   2009-10-22

Vietnam expects 20-percent decline in remittances on crisis   2009-10-21

Vietnam’s bonds rise first day in three; dong little changed   2009-10-21

Saigon-Hanoi Bank beats full-year target in 9 months   2009-10-21

North Kinh Do raises 2009 pretax profit forecast by 67 pct   2009-10-21

Vietnam to import additional 10,000 tons of sugar this year   2009-10-21

Firms ink deals with China partners   2009-10-21

Tuna export facing difficulties   2009-10-21

Banks still trying to lure more capital   2009-10-21

New petrol prices may still mean “one price” only   2009-10-21

Supermarkets in Vietnam looking to get smart for growth   2009-10-21