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American Made Advocacy: Changing Leadership and Three Years of Advocacy in D.C.IDC: Indonesia’s Smartphone Market Starts the Year with a Strong 27.4% Growth in 1Q24
May 16, 2024 | IDCEstimated reading time: 1 minute
Indonesia’s smartphone market grew sharply at 27.4% year-over-year (YoY) and 11.5% quarter-over-quarter (QoQ) to 10 million units in 1Q24, according to International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker. Vendors were able to bring in significant shipments to capitalize on the Ramadan season. After a few quarters of low shipments, vendors stocked up the channels, setting the stage for strong growth in 1Q24.
Higher-priced smartphones in the US$600+ segment continued to grow significantly in 1Q24 at 12.8% YoY, led by Apple. The mid-range segment of US$200<US$600 had the highest growth at 73.4% YoY, as Apple, Samsung, vivo, and Xiaomi grew sharply in this price segment. The lower-end segment of <US$200 also grew at a whopping 17.8%, led by Transsion. Average Selling Price (ASP) was relatively stable as it grew 1.6% YoY, reaching US$215 in 1Q24.
5G share increased significantly to 28.2%, from 17.6% in 1Q23. The sharp increase was driven by new model releases as more vendors expanded their 5G offerings. 5G growth in this quarter was mostly driven by OPPO, vivo and Xiaomi, while Samsung continued to lead the 5G market with their expansive 5G offerings. ASP dropped 21.3% YoY and 23.4% QoQ, reaching US$469 in 1Q24.
“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,” says Vanessa Aurelia, Research Analyst, IDC Indonesia.
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