• Indonesia’s smartphone shipments grew 4% YoY in Q3 2024 due to steady economic growth and pent-up demand.

• Xiaomi’s smartphone shipments grew 5% YoY to lead the market with a 19% share.

• OPPO saw a strong growth of 30% YoY in the mid-price segment ($200-$399).

• Samsung grew 87% YoY to lead the premium segment (≥$600) with a 42% share.

• 5G smartphone shipments grew 15% YoY, with OEMs focusing on 5G growth in the $200-$399 segment.

Jakarta, Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Seoul, Taipei, Tokyo – Nov 07, 2024

Indonesia’s smartphone shipments increased by 4% YoY in Q3 2024, according to Counterpoint’s Monthly Indonesia Smartphone Tracker. The country’s macroeconomy has shown steady growth with stable household consumption, especially among upper-middle-class consumers, and positive consumer confidence. Further, OEMs and retailers drove consumers’ seasonal spending during the quarter, like those around the Independence Day celebrations and July school holidays, by bringing promotional schemes. The quarter also saw aggressive launches of new smartphone models by OEMs to channel pent-up demand for upgrades. Besides, OEMs and retailers, like OPPO, vivo, Xiaomi, Blibli and Erajaya, continued to expand their channel coverage, offering a better shopping experience to consumers.

Xiaomi led the market in Q3 2024 with a 19% shipment share. The OEM continued to focus on the mass-market segment, leading the entry-level segment (<$200) with a 25% share during the quarter, which grew 19% YoY. Besides, the new Xiaomi 14T series drove the brand’s 51% YoY growth in the high-end segment ($400-$599).

OPPO grew 2% YoY to maintain its second position in the market with an 18% share. The OEM led the $200-$399 and $400-$599 segments, reflecting its strategy to focus on the mid-price and high-end segments. OPPO’s strong growth in the mid-price segment ($200-$399) was driven by the A60 model and the newly launched A3 Pro and Reno12 F series.

The premium segment (≥$600) grew 17% YoY driven by Samsung, which led the segment with a 42% share and 87% YoY growth. The launch of the Galaxy Z Fold6, Flip6 series and Galaxy S24 FE drove Samsung’s numbers in this segment.

5G smartphone shipments grew 15% YoY to reach a 31% share of the overall smartphone market. The mid-price segment ($200-$399) grew 29% YoY to account for 65% of the quarterly 5G shipments. OEMs have been focusing on this price segment to provide more 5G smartphones at lower prices. OPPO led this 5G segment in Q3 with a 28% share and 128% YoY growth.

Outlook

Commenting on the market outlook, Senior Analyst Febriman Abdillah said, “We can expect the smartphone market to grow in Q4 2024 given the holiday season when OEMs and retailers launch promotional programs. AI features are gradually gaining customer support and we may see more new AI smartphone models in the market.”

The Indonesian government will also continue to strive to strengthen the country’s industry by urging OEMs to meet the requirements of TKDN (Domestic Component Level) as a prerequisite for a smartphone product to be marketed in Indonesia.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Follow Counterpoint Research

press(at)counterpointresearch.com