Indonesia’s smartphone market has experienced a remarkable surge in the first quarter of 2024, with shipments increasing by a staggering 27.4% year-over-year (YoY) to reach 10 million units. This exceptional growth, reported by the International Data Corporation (IDC), marks a record-breaking period for the market, driven by strategic restocking and robust demand across all price segments ahead of the Ramadan season.
A significant shift in market leadership occurred in Q1 2024, with Oppo surpassing Samsung to become the leading smartphone brand in Indonesia. Oppo achieved an impressive 8.5% YoY growth, solidifying its dominance in the competitive landscape. The company’s success can be attributed to its strong market strategy and diverse product offerings that resonate well with Indonesian consumers.
Transsion Holdings, the parent company of brands such as itel, Infinix, and Tecno, witnessed the most dramatic growth during this period. The collective shipments of Transsion brands soared by an extraordinary 279% YoY, catapulting the company to the third position in the market. This remarkable performance underscores Transsion’s effective penetration into the budget smartphone segment, which has been a key growth driver in the market.
Indonesia’s smartphone market growth was notable across all price segments, reflecting diverse consumer preferences and purchasing power:
- High-End Segment (US$600+): The premium smartphone segment saw a solid 12.8% YoY growth, primarily driven by Apple. The enduring appeal of Apple’s high-end devices contributed significantly to this segment’s performance.
- Mid-Range Segment (US$200-$600): The mid-range segment experienced an explosive 73.4% YoY growth, the highest among all segments. This surge was fueled by successful launches from major brands like Apple, Samsung, vivo, and Xiaomi, all introducing popular models within this price range.
- Budget Segment (Under US$200): Budget smartphones also enjoyed a healthy growth of 17.8% YoY. Transsion’s budget-friendly offerings played a crucial role in this segment’s robust performance, appealing to cost-conscious consumers seeking value for money.
Despite the substantial growth in shipments, the average selling price (ASP) of smartphones in Indonesia saw only a modest increase of 1.6% YoY, reaching US$215. This slight rise in ASP indicates that while there is a growing demand for higher-priced smartphones, the budget and mid-range segments continue to dominate the market.
