Vietnam’s Rise: Leading Smartwatch Manufacturers in Asia

Over the past decade, Vietnam has transformed itself into one of Asia’s leading technology manufacturing centers. Once primarily known for garments and footwear, the nation has successfully climbed the value chain into advanced electronics — particularly the smartwatch and wearable device industry. Today, Smartwatch manufacturers in Vietnam are producing some of the world’s most popular wearable devices, driving massive growth in Vietnam smartwatch exports and solidifying the country’s position in global trade.

According to Vietnam Smartwatch export data, the country’s smartwatch export value reached USD 19.53 billion in 2024, marking a 20% year-on-year growth. This incredible performance highlights Vietnam’s rapid integration into global supply chains, powered by world-class manufacturers like Luxshare, Pegatron, and GoerTek.

Vietnam’s Smartwatch Export Boom: The Numbers Behind the Growth

Vietnam is now the 4th largest smartwatch exporter globally, holding a 9.8% market share in total exports. Its products reach major global markets including the United States, Netherlands, the United Kingdom, Germany, Japan, and South Korea.

The United States leads as the biggest destination for Vietnam smartwatch exports, accounting for 55% of the total export value (USD 10.74 billion). European countries like the Netherlands, the UK, and Germany collectively make up over 15% of the market, while Asian destinations such as China, Japan, and South Korea continue to show steady growth.

This impressive diversification underscores how Smartwatch suppliers in Vietnam have become essential players in meeting global demand for wearable technology.

Top Smartwatch Manufacturers in Vietnam: Leading the Industry Forward

The foundation of Vietnam’s success lies in its powerhouse manufacturers. The top Smartwatch manufacturers in Vietnam combine advanced assembly capabilities, global partnerships, and supply chain resilience — factors that make Vietnam a key alternative to China for electronics production.

1. LXVN (Luxshare Precision Industry Vietnam)
Luxshare Vietnam leads the nation’s smartwatch export rankings, with export values exceeding USD 2.4 billion in 2024. The company manufactures Apple Watch models, including the Apple Watch Series 9 and Apple Watch SE, for global markets. Its plants in Bac Giang and Bac Ninh are among the most advanced in Asia, showcasing Vietnam’s ability to meet Apple’s strict quality standards.

2. Luxshare ICT Vietnam Ltd
A major player in connectivity modules and wearable assemblies, Luxshare ICT focuses on high-precision components such as PCBs and charging assemblies. Its exports reached around USD 900 million, making it one of the top Smartwatch suppliers in Vietnam.

3. Pegatron Vietnam Co., Ltd.
Pegatron’s facilities in Hai Phong are integral to the production of smartwatches for brands like Google (Pixel Watch) and Asus. With exports of USD 700 million, Pegatron represents the technological diversity among Smartwatch manufacturers in Vietnam.

4. GoerTek Technology Vina Co., Ltd.
GoerTek contributes heavily to the production of Apple Watch components, fitness trackers, and smart modules. Its specialization in audio and sensor integration makes it a core player in Vietnam smartwatch exports.

5. Samsung Electronics Vietnam
Although better known for smartphones, Samsung’s Vietnam units export components for the Galaxy Watch series, strengthening the ecosystem of Smartwatch suppliers in Vietnam.

These companies together account for over 70% of total Vietnam smartwatch export value, proving how crucial they are to global wearable production.

Vietnam Smartwatch Export Data: A Decade of Steady Growth

According to official Vietnam Smartwatch export data, exports have grown exponentially from USD 723 million in 2014 to USD 19.53 billion in 2024. This 25-fold increase in just ten years highlights the country’s shift from low-cost assembly to high-tech manufacturing.

The 2025 outlook remains bullish, with exports projected to reach USD 5.5–6 billion in the first half of the year alone. This growth is supported by ongoing capacity expansions by Luxshare, Pegatron, and GoerTek, as well as increasing localization of components within Vietnam.

Why Global Tech Giants Choose Vietnam

Several factors make Vietnam a preferred destination for smartwatch production:

• Cost Competitiveness: Lower labor and operational costs compared to China give Smartwatch manufacturers in Vietnam an edge in global sourcing strategies.

• Political Stability: Predictable policies and a favorable investment climate have attracted billions in FDI from top tech companies.

• Trade Agreements: Vietnam’s membership in major trade pacts like CPTPP, EVFTA, and RCEP offers tariff benefits, making Vietnam exports more competitive in global markets.

• Infrastructure and Industrial Zones: Well-developed industrial parks in Bac Ninh, Hai Phong, and Ho Chi Minh City provide world-class logistics and supply chain facilities.

These conditions have allowed Smartwatch suppliers in Vietnam to scale operations rapidly and attract partnerships with global brands.

Key Market Trends in Vietnam’s Smartwatch Industry (2024–2025)

1. Shift Toward High-Value Exports:
Vietnam is moving from basic assembly to full-fledged OEM and ODM manufacturing, where local companies design, engineer, and produce wearable devices.

2. Localization of Components:
Domestic suppliers like Foxconn Interconnect and Fenda Vietnam are contributing casings, batteries, and electronic modules — reducing import dependency and increasing value addition in Vietnam exports.

3. Diversification Beyond Apple:
While Apple dominates production, other brands like Google, Samsung, Huawei, and Garmin are expanding their manufacturing partnerships with Smartwatch manufacturers in Vietnam.

4. Rise of Mid-Tier Domestic Brands:
Local firms such as VinSmart are launching affordable smartwatches targeting Southeast Asian markets, showing Vietnam’s growing innovation capabilities.

5. Growing Global Demand:
With health and fitness technology becoming mainstream, worldwide smartwatch demand continues to rise — positioning Vietnam smartwatch exports for long-term expansion.

Challenges and Future Outlook

Despite its strong trajectory, Vietnam faces challenges including dependency on imported components, skill development needs, and environmental compliance pressures. However, continued investment in education, infrastructure, and renewable energy is helping overcome these barriers.

By 2025, Vietnam is poised to become Asia’s second-largest smartwatch exporter, after China. The synergy between foreign investment and emerging domestic innovation is building a strong ecosystem that supports both global tech brands and local enterprises.

With its mix of cost efficiency, advanced capabilities, and strategic trade positioning, Smartwatch manufacturers in Vietnam are well on their way to defining the next chapter in wearable technology production.

Final Thoughts

Vietnam’s journey from a low-cost assembly hub to a high-tech manufacturing powerhouse showcases its remarkable industrial evolution. The strong performance of Vietnam smartwatch exports, driven by top-tier Smartwatch manufacturers and suppliers, reflects a broader trend of technological transformation sweeping the country’s export economy.

As more global brands establish manufacturing bases and more domestic firms enter the wearable sector, Vietnam’s role in the global electronics supply chain will continue to strengthen. Supported by reliable Vietnam Smartwatch export data, investors and businesses can clearly see that the future of wearable technology is being shaped — not just in Silicon Valley or Shenzhen — but increasingly in Vietnam.