Counterpoint: In the third quarter, smartphone shipments in Indonesia continued to grow, with Xiaomi leading the market

According to a report by Counterpoint, smartphone shipments in Indonesia increased by 4% year-on-year in the third quarter of 2024. The country's macroeconomic environment shows stable growth, with household consumption particularly stable, especially among upper-middle-class consumers, who exhibit strong consumer confidence. Xiaomi (01810) led the market in the third quarter of 2024, capturing 19% of the shipment share. At the same time, Xiaomi continues to focus on the mass market, leading the entry-level market (<$200) with a 25% share, an increase of 19% compared to the same period last year. Additionally, the new Xiaomi 14T series drove a 51% year-on-year growth for the brand in the high-end market ($400—$599).

Moreover, smartphone brand manufacturers and retailers drove seasonal consumer spending this quarter, particularly around Independence Day celebrations and the July school holidays, by launching promotional schemes to attract consumers. This quarter also witnessed smartphone brand manufacturers actively launching new smartphone models to meet pent-up upgrade demand. Furthermore, smartphone brand manufacturers and retailers, such as OPPO, vivo, Xiaomi, Blibli, and Erajaya, continued to expand their channel coverage to provide consumers with a better shopping experience.

OPPO grew by 2% year-on-year, maintaining its second position in the market with an 18% share. OPPO leads in the $200—$399 and $400—$599 price segments, reflecting its strategy focused on the mid-to-high-end market. OPPO's strong growth in the mid-range market ($200—$399) is attributed to the OPPO A60 and the newly launched A30Pro and Reno12F series.

The high-end market (≥$600) grew by 17% year-on-year, primarily driven by Samsung. Samsung leads other manufacturers in the high-end market with a 42% share and an 87% year-on-year growth. The launch of the Galaxy Z Fold6, Flip6 series, and Galaxy S24 FE has propelled Samsung's growth in this segment.

5G smartphone shipments increased by 15% year-on-year, accounting for 31% of the entire smartphone market. Among them, shipments in the mid-range market ($200—$399) increased by 29%, making up 65% of quarterly 5G phone shipments. Smartphone brand manufacturers are focusing on this price range, hoping to launch more affordable smartphones. OPPO led this 5G segment in the third quarter with a 28% market share and a 128% year-on-year growth.

When discussing market prospects, senior analyst Febriman Abdillah stated, "Considering that smartphone manufacturers and retailers will launch promotional activities during the holiday season, the smartphone market is expected to grow in the fourth quarter of 2024. At the same time, AI features are gradually gaining consumer support, and we may see more new AI smartphones in the market." ”