• Indonesia’s smartphone shipments increased by 20% YoY in Q2 2024 due to festive sales and the low base in the same period last year.
• Xiaomi captured the top spot with an 18.1% share, growing by 42% YoY.
• vivo aggressively launched new smartphones and grew 27% YoY.
• Apple continued to lead the premium segment (>$600) with a 40% share .
• 5G smartphone shipments grew 98% YoY, accounting for 32% of Q2 2024 shipments.

Jakarta, Beijing, Boston, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Seoul, Tokyo – Aug 9, 2024

Indonesia’s smartphone shipments increased by 20% YoY in Q2 2024, according to Counterpoint’s Monthly Indonesia Smartphone Tracker. The quarter saw a seasonal increase due to the Eid-al-Fitr festival where OEMs and smartphone retailers bring price promotions. This year, the shopping season lasted longer by around 15 days when compared to last year, resulting in increased demand. Also, the YoY shipment growth in Q2 2024 came on a low base in the same period last year, as Indonesia was experiencing an economic downturn then. Even after the shopping season was over, OEMs continued to run price promotions in multiple channels and also launched new models and variants.

Xiaomi led the market in Q2 2024 with an 18.1% shipment share. The OEM has been focusing on strengthening its entry-level segment (<$200) driven by the Redmi 13C, Redmi A3 and Redmi 12 models. The Redmi Note 13 series, which serves multiple price segments, also contributed to Xiaomi’s Q2 growth. The flagship Xiaomi 14 has helped increase the OEM’s brand appeal through a collaboration with Germany’s Leica for camera lenses. Furthermore, during Q2, Xiaomi rolled out price promotions in both online and offline channels, making it more competitive in the market. The OEM also expanded its network of stores and service centers, making them more accessible for consumers.

vivo grew 27% YoY to take a 17.7% share of the Q2 2024 shipments. During the quarter, vivo expanded its product portfolio across price segments by launching new models, like the vivo Y18, Y28, IQOO Z9, Z9x, vivo X100, X100 Pro and X Fold3 Pro.

Apple maintained its lead in the premium segment (>$600) with a 40% share and grew 6% YoY. Apple’s price cut helped increase iPhone demand during this quarter. The iPhone 15 and iPhone 15 Pro contributed the most to Apple shipments. The premium segment saw a 70% YoY increase in shipments driven by Samsung, OPPO and vivo, putting pressure on Apple's leadership in this segment.

The ‘others’ category surged 59% YoY driven by the strong growth of itel and TECNO largely in the entry-level segment (< $200). itel and TECNO are following the same route as other Transsion brand Infinix to promote affordable gaming smartphones and have partnered with e-sports teams and game developers to target young consumers.

5G smartphone shipments grew 98% YoY to reach a 32% share of the overall smartphone shipments. This growth was driven by the midrange segment ($200-$399), which grew 141% YoY to account for 60% of quarterly 5G shipments. While Samsung led in 5G shipments with a market share of 31%, OPPO and vivo grew their 5G shipments to have a combined share of 39%.

Outlook

Commenting on the market outlook, Senior Analyst Febriman Abdillah said, “We expect stable macroeconomic growth in H2 2024 considering the coming local elections, which could increase economic activity, thus positively impacting the country’s smartphone market. However, geopolitical and global economic turbulence may affect the domestic market, including the smartphone supply chain, currency rate and fuel prices.”

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.

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