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After the statement about the “groan” of the President of TGDD: iPhone 14 Pro Max depreciated fastest in history, how fierce will the battle be?

## According to our records, on the afternoon of May 10, the price of iPhone 14 Pro Max set the lowest price ever, close to the milestone of VND 25 million, then turned to increase again, keeping price over 26 million dong in the morning of 11/05/2023. Consumers may not hear the “whisper” of TGDD’s competitors, but they can witness an iPhone depreciating the fastest in history, with a price chart that fluctuates continuously, up and down like a stock. At 10 am on May 11, the price of 4 major retailers in the market, namely TGDD, FPT Shop, Cellphone S and Hoang Ha Mobile listed on the website, did not differ too much. Particularly, TGDD system is listing 2 prices on the website, in which, if customers buy online under the Online Cheap program, they will have a better price. For example, the IP 14 Pro Max 128 GB product sold at this system is priced online at 250,000 VND lower than the listed price. With FPT Shop or CellphoneS, there are additional incentives such as old collection incentives up to 2 million, additional discounts for members, Apple ecosystem, etc. That is, with the price listed above, smartly “bargain” customers Customers can also claim more incentives, benefits and buy products at the best price. It can be said that iPhone 14 Promax is the fastest iPhone depreciating in history. When officially opened for sale in Vietnam on October 14, 2022, the price of iPhone 14 Pro Max was commonly listed at 33.9 million. At the peak period, iPhone 14 Promax was also raised by 2 – 3 million VND. Even to be able to own this model early, customers also have to spend a difference of about 4-6 million VND to buy goods in the secondary market. iPhone 14 Promax is just a specific case in the fierce competition for market share in the context of the general market decline after the “surprising” speech of the Chairman of Mobile World – Nguyen Duc Tai at the Annual General Meeting. annual winter of 2023. Mr. Tai said that TGDD was not too conservative in the price difference between himself and its competitors and that was a “gap” for competitors to find customers. “*You can see that there are times when the price of Mobile World is several million dong higher than other stores*”, Mr. Tai said. However, Mr. Tai affirmed that in the near future this phenomenon will end and will not let the price difference become a point of advantage for competitors. ” *As an investor, if you also invest in competitors, you will hear a groan in the near future, and it will last, not short. Prepare for that spirit,” said Mr. Tai. With the advantage of “a lot of money” and a nationwide network, TGDD has the conditions to launch a “war” and capture the declining market share from rivals. However, no one will sit still. After the statement of the President of TGDD, CellphoneS – another famous phone and laptop retail system has responded: ” *Faced with price competition, CellphoneS has invested in a real-time price update system to be sure. always proactively set a lower price than competitors, enough for customers to feel secure about the price when choosing CellphoneS *”, said a representative of this system. During the general meeting of shareholders, a representative of FPT Digital Retail Joint Stock Company (FRT), a strong competitor of TGDD, said that in the short term, when the parties lower the price, FRT must also lower the price, but in the long term. FRT term will expand the category to limit this “pointless” price war. *“Of course, during the difficult market process, there will be “fights”, but in the long run, they will only drag each other down, not eating each other. This price war we consider is not a good problem. But, in the short term, we will also lower the market to sell goods *”, said FRT Chairman Nguyen Bach Diep. FPT Shop “welcomes the battle” on all fronts, including the media. The proof is that when MWG launched the campaign “The price is too cheap”, immediately on the same day, FPT Shop “replied” with the slogan “Where is “cheaper” here CHEAPER” or “Cheaper than so cheap” “. The price war between retailers in the market will not know how long it will last, but it can be seen that the “market” of capital with a net cash balance by the end of the first quarter of 2023 is more than VND 2,500 billion and a wide store network. nationwide is a great advantage of TGDD in this war. The listed price of TGDD has a difference between offline and online up to several hundred thousand dong/product, which means that it can improve profit margins compared to competitors thanks to the shopping of offline customers. TGDD’s low-cost communication programs are mainly concentrated in big cities and urban areas, targeting areas subject to fierce competition from competitors, instead of rural areas, where TGDD is still less competitive. than. In response to TGDD, recent developments have shown that no business will sit idly to lose market share that has been built for many years, even if it takes a long time to “groan”.



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