Counterpoint: Smartphone shipments in Indonesia continued to grow in the third quarter, with Xiaomi (01810) leading the market.

According to a report by Counterpoint, smartphone shipments in Indonesia increased by 4% year-on-year in the third quarter of 2024. The country's macro economy is showing stable growth, with household consumption especially stable, particularly among consumers in the upper-middle class who are confident in their spending. Xiaomi (01810) led the market in the third quarter of 2024, with a 19% share of shipments. Xiaomi continues to focus on the mass market, leading with a 25% share in the entry-level market (<$200), an increase of 19% compared to the same period last year. Additionally, the new Xiaomi 14T series drove the brand's 51% year-on-year growth in the high-end market ($400-$599). Furthermore, mobile phone brand manufacturers and retailers boosted consumer seasonal spending in this quarter, such as around Independence Day celebrations and the school holidays in July, by launching promotions to attract consumers. This quarter also saw mobile phone brand manufacturers actively introducing new smartphone models to meet pent-up upgrade demand. In addition, brand manufacturers and retailers such as OPPO, vivo, Xiaomi, Blibli, and Erajaya continued to expand their channel coverage to provide consumers with a better shopping experience. OPPO saw a 2% year-on-year growth and maintained its second position in the market with an 18% share. OPPO leads in the 200-399 and 400-599 price segments, reflecting its focus on the mid- to high-end market strategy. OPPO's strong growth in the mid-range market (200-399) was driven by the OPPO A60 and the newly released A30Pro and Reno12F series. The high-end market ($600) grew by 17%, mainly driven by Samsung. Samsung led other manufacturers with a 42% share in the high-end market and an 87% year-on-year growth. The release of the Galaxy Z Fold6, Flip6 series, and Galaxy S24 FE drove Samsung's growth in this segment. Shipments of 5G smartphones increased by 15% year-on-year, capturing 31% of the overall smartphone market. Shipments in the mid-range segment (200-399) increased by 29% year-on-year, accounting for 65% of the quarter's 5G smartphone shipments. Mobile phone brand manufacturers are focusing on this price range, hoping to launch more affordable 5G smartphones. OPPO led this 5G sub-segment in the third quarter with a 28% market share and 128% year-on-year growth. When discussing the market outlook, Senior Analyst Febriman Abdillah stated, "Considering that mobile phone manufacturers and retailers will conduct promotions during holidays, we expect the smartphone market to grow in the fourth quarter of 2024. Additionally, AI functions are gradually gaining consumer support, and we may see more new AI smartphones in the market."