Vietnam has quietly emerged as one of Asia’s most dynamic electronics manufacturing centers. Once known primarily for garments and footwear, the nation has successfully moved up the global value chain into high-tech industries like smartphones, computers, and increasingly — wearable devices. In recent years, smartwatch manufacturers in Vietnam have positioned the country as a critical hub in the global supply chain, producing millions of units for leading technology brands such as Apple, Samsung, and Google.

According to Vietnam export customs data, the total value of Vietnam smartwatch exports reached an impressive $19.53 billion in 2024 — marking a 20% increase compared to the previous year. This growth highlights not only Vietnam’s industrial capacity but also its rising importance in the global technology ecosystem.

Vietnam: The Fourth-Largest Smartwatch Exporter Globally

With a 9.8% global export share, Vietnam now ranks as the fourth-largest exporter of smartwatches in the world. This achievement results from strategic investments, robust manufacturing infrastructure, and diversification efforts by global tech giants seeking alternatives to China. The strong demand for Vietnam smartwatch exports is driven by the country's ability to combine precision assembly, advanced electronics integration, and cost-efficient labor.

The United States remains Vietnam’s biggest market, accounting for approximately 55% of total smartwatch exports, valued at over $10.74 billion. Other key destinations include the Netherlands, the United Kingdom, Germany, South Korea, and Japan. This diversified export portfolio underscores how Vietnam exports have evolved from low-tech products to high-value electronic goods.

Leading Smartwatch Manufacturers in Vietnam

At the heart of this success story are the top smartwatch manufacturers in Vietnam that drive production, innovation, and export performance. Companies like LXVN (Luxshare Precision Industry Vietnam), Luxshare ICT, Pegatron Vietnam, and GoerTek Technology Vina lead the market, assembling devices for major international brands.

  1. LXVN (Luxshare Precision Industry Vietnam) – The top smartwatch exporter in the country, LXVN produces Apple Watch Series 9 and SE models. With exports worth $2.4 billion, its plants in Bac Giang and Bac Ninh represent the peak of Vietnam’s wearable tech production.

  2. Luxshare ICT Vietnam Ltd – Focusing on components, modules, and subassemblies, Luxshare ICT’s exports were valued at $900 million in 2024. The company supplies wearable components to Apple and other global brands.

  3. Pegatron Vietnam Co., Ltd. – With $700 million in exports, Pegatron manufactures smartwatches for Google (Pixel Watch) and Asus. Its Hai Phong facilities embody Vietnam’s transition toward high-tech electronics assembly.

  4. GoerTek Technology Vina Co., Ltd. – A major supplier for Apple and Sony, GoerTek produces smartwatch components and fitness trackers. Its exports surpassed $500 million in 2024.

  5. Samsung Electronics Vietnam – While better known for its smartphones, Samsung also exports smartwatch components and modules, contributing to the broader ecosystem of smartwatch suppliers in Vietnam.

Together, the top three manufacturers account for over 70% of the nation’s smartwatch export value. This concentration reflects Vietnam’s strong alignment with global tech leaders, especially Apple’s expanding production footprint in Southeast Asia.

Vietnam’s Export Ecosystem and Supply Chain Integration

Vietnam’s manufacturing advantage lies not only in its labor cost competitiveness but also in its growing supply chain integration. According to Vietnam export customs data, the country is improving its localization capabilities — from casings and PCBs to batteries and sensors — reducing dependency on imported components. Companies like Fenda Vietnam and Foxconn Interconnect Technology Vietnam are key players supporting large-scale OEMs through component production.

This localization trend benefits smartwatch manufacturers in Vietnam, allowing for faster turnaround times, reduced costs, and enhanced quality control. Moreover, the government’s industrial policies and trade agreements such as CPTPP, EVFTA, and RCEP have strengthened Vietnam’s position as a preferred export destination for global brands.

Export Data and Growth Trajectory

The numbers speak volumes about the industry’s rapid ascent. Between 2014 and 2024, Vietnam’s smartwatch export value soared from $723 million to $19.53 billion — a nearly 27-fold increase. This surge mirrors the nation’s transformation into a high-value manufacturing powerhouse. During the first two quarters of 2025 alone, Vietnam smartwatch exports already reached $8.97 billion, putting the country on track for another record-breaking year.

From a broader perspective, Vietnam exports in electronics and components exceeded $72 billion in 2024. This strong performance is tied to Vietnam’s growing role in the global electronics ecosystem — from smartphones and tablets to wearables and IoT devices.

Competitive Landscape of Vietnam’s Smartwatch Industry

Vietnam’s smartwatch manufacturing ecosystem can be categorized into three tiers:

  • Tier 1 – OEM/ODM Assemblers: These include LXVN, Pegatron, and GoerTek, responsible for end-to-end production for Apple, Google, and Samsung.

  • Tier 2 – Component and Module Producers: Firms like Luxshare ICT, Fenda, and Foxconn Interconnect supply crucial parts such as sensors, casings, and batteries.

  • Tier 3 – Local and Regional Brands: Vietnamese firms like VinSmart focus on regional markets, developing affordable smartwatches for Southeast Asian consumers.

This structured ecosystem has made Vietnam a self-reliant manufacturing hub, capable of handling complex assembly processes and global-scale exports.

Emerging Market Trends in 2025

The 2024–2025 period marks a significant turning point for the wearable industry in Vietnam. Several key trends define this evolution:

  1. Rapid Export Growth: The smartwatch export sector is expanding at a compound annual rate of 18–20%, driven by increased production capacity and rising global demand.

  2. China+1 Strategy: Tech giants are diversifying production away from China, making Vietnam a primary beneficiary of new investments in wearable technology.

  3. Localization of Components: Vietnam aims to raise domestic content in smartwatch manufacturing from 25% to 40% by 2026.

  4. Rise of Mid-Tier Smartwatches: Manufacturers are catering to the mid-range market, priced between $100–$250, targeting both domestic and regional consumers.

  5. Sustainability Focus: Many smartwatch manufacturers in Vietnam are adopting eco-friendly production methods, renewable energy sources, and waste management systems to align with ESG goals.

Challenges in the Smartwatch Manufacturing Sector

While growth remains strong, challenges persist. Vietnam still relies heavily on imported chipsets, sensors, and display modules from China, Taiwan, and South Korea. The need for workforce upskilling is urgent, as smartwatch assembly demands high precision and consistency. Furthermore, tightening environmental regulations and competitive pricing pressure continue to affect margins for OEMs and smartwatch suppliers in Vietnam.

Outlook for 2025 and Beyond

Looking ahead, Vietnam’s smartwatch industry is poised for continued expansion. Major OEMs like Luxshare, GoerTek, and Pegatron are planning new factories to meet the growing global demand for next-generation wearables. As Vietnam export customs data suggests, investments in smart manufacturing, automation, and supply chain resilience will further enhance production efficiency.

Additionally, the entry of new brands such as Google and Garmin — alongside rising domestic players like VinSmart — will diversify the market. With its solid infrastructure, trade-friendly policies, and skilled workforce, Vietnam is well on its way to becoming Asia’s second-largest smartwatch exporter after China.

Final Thoughts

The story of Vietnam smartwatch exports is a remarkable example of strategic transformation. In just a decade, the country has transitioned from assembling basic electronics to manufacturing advanced wearable technologies that define modern lifestyles. The success of smartwatch manufacturers in Vietnam reflects the nation’s broader industrial progress — blending cost efficiency, quality, and innovation.

As Vietnam continues to attract investment from global tech giants and strengthens its local supplier base, the future of its smartwatch manufacturing industry looks exceptionally promising. Whether viewed through the lens of trade performance, innovation, or industrial policy, Vietnam stands as a shining example of how emerging economies can redefine global manufacturing landscapes through precision, partnership, and progress.