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South Asia Smartphone Market Grew by 39.5% in 2Q24
October 10, 2024 | IDCEstimated reading time: 3 minutes
According to the International Data Corporation ’s (IDC) Worldwide Quarterly Mobile Phone Tracker, South Asia’s (excluding India) overall smartphone market shipped 2.9 million units in 2Q24, with 39.5% growth YoY (year-over-year), continuing a strong double-digit YoY growth from 1Q24.
2Q24 Market Highlights:
Bangladesh’s market shipped 2.0 million units, with 20.1% YoY growth. The festive season of Eid provided an opportunity for brands to introduce offers and discounts, which resulted in double-digit YoY growth.
Nepal’s market shipped 548 thousand units, with 77.8% YoY growth, showing a growth trend for three consecutive quarters. The brands launched affordable “high specs” smartphones to cater to the consumer demand during Nepali New Year and Buddha Jayanti.
Sri Lanka’s market shipped 365 thousand units, with 218% YoY growth, showing a triple-digit growth trend for 5 consecutive quarters. The quarter had been a celebration time for Sinhalese New Year, Vesak Poya, and Poson, in which new brands and new models were launched.
“Nepal and Sri Lanka are expected to continue the growth momentum in 3Q24, with the onset of the Diwali festive period in Nepal and expansion of Chinese brands in Sri Lanka through channel partnerships. However, the political unrest and floods are likely to result in a sharp drop in the Bangladesh market in 3Q24,” says Anjney Bhardwaj, Senior Market Analyst, Mobile Phones, IDC India.
Smartphone ASPs (average selling price) continued to increase, growing by 19.2% YoY and reaching US$152 in 2Q24. The low-end segment (US$100
5G smartphones accounted for 15% of the smartphone share for the three countries, growing 354% YoY:
o The new government in Bangladesh continued with the existing 5G agenda. The top telcos have been rolling out 5G networks using unified 5G licenses under BTRC and reducing 5G data costs, although their priority remains to bring 4G to all. 5G smartphone shipment reached 8% of the total, growing 430% YoY in 2Q24.
o The new Nepalese government has authorized NTA to initiate an auction of 5G spectrum, post Huawei’s 5G testing report. 5G smartphone shipment grew by 212% YoY, accounting for 34% of the total share.
o For Sri Lanka, with a 100% acquisition of Airtel and 74% acquisition of Sri Lankan Telecom, Dialog Axiata has become the largest telco in Sri Lanka and expanding its 5G coverage as well as offering affordable 5G plans. 5G smartphone shipment accounted for 25% of the total smartphones in 2Q24.
The market continued to be dominated by retail channels with a 98% share as consumers prefer to see the device before purchase, which is made easier by easy accessibility in multi-brand outlets and large chain store expansion by national distributors, particularly in Sri Lanka.
Transsion led the region with a 24% market share, followed by Xiaomi at 22% and realme at 14%:
o Transsion led the Bangladesh market for the eighth successive quarter, with Spark Go 2024 and A05s being the most popular, despite a 10% YoY decline. realme tied with Xiaomi for the second spot, with realme’s Note 50 and C65, and Xiaomi’s Redmi 13 and Redmi A3 as their top-selling models.
o Xiaomi continued to lead the Nepal market for the sixth quarter in a row, growing 122% YoY, with the Redmi 13C series being the highest-shipped model in the market. Samsung had the most number of models, with its Galaxy A15 leading the pack. Transsion grew 71% YoY, with Spark Go 2024 being top in demand.
o Honor led the market with a 21% market share in Sri Lanka, owing to X7b as the highest-shipped model in the market. ZTE tied with Samsung for the second position. ZTE’s Blade A34, along with V60 and Neo 2 were its top-selling models while Samsung’s Galaxy A05 led its overall stock.
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