- Hyundai Life launches in Vietnam with appliances and smart tech.
- Products focus on energy efficiency and urban-friendly design.
- Aims for 10% market share in Vietnam’s $13B appliance market.
Officially entering the Vietnamese market, Hyundai Life, a subsidiary of Hyundai Corporation Holdings South Korea, stepped into home appliances, lighting equipments, and smart door locks as three major product lines.
The entry of Hyundai into the consumer goods sector marks the progression from industrial and commercial ventures. Hyundai Life and GPLUSG Corporation of Vietnam (GoodPlusGood) intend to manufacture products befitting urban lifestyles, employing energy-saving technologies and modern designs.
Among the products available are air fryers, air purifiers, personal care items such as hair dryers, smart locks, and energy-efficient lighting. Each and every product is manufactured under the direct supervision of Hyundai Corporation Holdings to ensure the highest quality and reliability.
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At present, Hyundai Life products can be bought and sold in more than 130 countries with a gross transaction value of $372 million; representatives of the company are certain that Vietnam will emerge into one of the principal markets due to Hyundai's strong manufacturing background and GPLUSG's knowledge of consumer needs. In the coming five years, Hyundai Life plans to offer 10% of appliances in Vietnam.
This home appliance market of Vietnam is huge, valued at $13 billion, and is growing at a rate of 10% yearly, mainly fueled by consumers between 18 and 45 years, who demand world-class, durable, and design-oriented products.
Nguyen Hong Que, CEO of Hyundai Electronics Vietnam said, "Vietnam is one of the most dynamic consumer markets in Southeast Asia, undergoing rapid transformation. Consumers here are looking for high-quality products that emphasize design, technology, and convenience". She also added, "Home appliances are the strategic core of the Hyundai Life ecosystem. Our goal is to build a modern, safe, and sustainable consumer ecosystem for Vietnamese families".