The General Department of Customs estimated Vietnamese people paid out up to US$1 billion purchasing high-class mobile phones this year.
Statistics show Vietnam consumed around 17 million mobile handsets in 2013, of which 7 million were smart phones.
The country’s smart phones market grew by 156% this year, ranking it first in Southeast Asia.
Over the past 11 months, more than 31,000 automobiles were imported into Vietnam worth US$640 million, up 29% in volume and 16% in value compared to the same period last year.
Luxury cars imported from the UK, France, Germany and the US are favourites with Vietnamese consumers.