CHART: A Look at Indonesia’s Smartphone Market in Q1 2024
This growth was fueled by the strategic restocking of channels by vendors before the Ramadan season and strong demand across all price segments.
- Indonesia's smartphone market surged by 27.4% YoY in Q1 2024, hitting 10 million units shipped.
- Oppo surpassed Samsung as the leading brand in Indonesia with an 8.5% YoY growth.
- Transsion brands (itel, infinix, Tecno) witness the biggest YoY growth in shipments (279% YoY), to claim the third spot.
Indonesia's smartphone market just witnessed a record shattering first quarter, according to data from International Data Corporation (IDC). Shipments grew by a whopping 27.4% year-over-year in Q1 2024, reaching 10 million units.
This growth was fueled by the strategic restocking of channels by vendors before the Ramadan season and strong demand across all price segments.
During the quarter, higher-priced smartphones in the US$600+ segment continued to grow significantly at 12.8% YoY, led by Apple. But the real story is in the mid-range (US$200-US$600) segment, which absolutely exploded with a massive 73.4% YoY growth. This growth was fueled by Apple, Samsung, vivo, and Xiaomi all launching popular models into the price category. Even budget phones (under US$200) enjoyed a good performance, with a respectable 17.8% YoY increase, thanks in large part to Transsion with its budget-friendly offerings.
Despite the pronounced growth in the budget segments, the average selling price (ASPs) for smartphones in Indonesia barely budged, with only a slight increase of 1.6% YoY, reaching US$215.
