Heaptalk, Jakarta — Indonesia’s smartphone market demonstrating a promising start in this year by exhibiting a strong growth of 27.4% year over year (YoY) and 11.5% quarter over quarter (QoQ) to 10 million units in Q1 2024.
According to International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker, the Ramadan season contributed significantly to the growth. Notably, this marked a rebound for vendors who increased inventory in these channels after several quarters of low shipments as ammunition for growth in the year’s first quarter.
Apple led higher-priced smartphones in the US$600 and above segment, which grew significantly at 12.8% YoY in Q1 2024. The mid-range segment of US$200<US$600 had the highest growth at 73.4% YoY, as Apple, Samsung, Vivo, and Xiaomi grew loudly in this price segment. The lower-end segment priced less than US$200 also grew by 17.8%, led by Transsion. Average Selling Price (ASP) was relatively stable and grew 1.6% YoY, reaching US$215.
Research Analyst at IDC Indonesia Vanessa Aurelia stated, “Vendors will try to continue this momentum through channel expansion, price cuts, and doubling down on marketing strategies while also facing external challenges such as increasing manufacturing and material costs, weakening rupiah, and uncertain geopolitical situation at the global level.”
Meanwhile, the 5G segment in Indonesia’s smartphone market grew significantly by 17.6% to 28.2% in Q1 2024. The launch of new models drove this increase as more vendors expanded their 5G offerings. 5G growth in the quarter was largely driven by Oppo, Vivo, and Xiaomi, while Samsung continued to lead the 5G market with its expansive offerings. ASP dropped 21.3% YoY and 23.4% QoQ, reaching US$469 in Q1 2024.
