Canalys’ newest market report on the Southeast Asian smartphone market reveals a wholesome 12% development year-on-year within the first quarter of this yr. Analysts say it is the primary signal of restoration after a reasonably troublesome 2023. Smartphone producers shipped 23.5 million models, however they’re nonetheless under pre-2023 ranges.
One of many foremost driving forces of the Q1 success is Ramdan in some markets like Indonesia and Malaysia, whereas different firms like Transsion benefited from markets like Philippines and Indonesia the place the sub-$100 segments noticed a revival.
In any case, Samsung continues to be within the lead with 19% market share, regardless of its cargo quantity tanking 20% year-on-year. That is to be anticipated, nevertheless, because the Korean tech large is slowly shifting its technique into focusing extra on the mid-range and high-end segments. It believes the development is for shoppers to hunt out high-end smartphones within the close to future.
Transsion, with its sub-brands Infinix, Tecno and iTel, secures a snug second spot wit 18% market share and recording a formidable 197% year-on-year development. It outpaces firms like Oppo and Xiaomi even. The latter noticed a considerable 52% improve in gross sales throughout this quarter, whereas Oppo slipped 12% year-on-year.
Analysts are optimistic of the longer term and predict about 4% whole market development in 2024, however future uncertainties surrounding fluctuating currencies, element price and different unstable elements could stunt the market’s development. That is why distributors with an environment friendly provide chain and wholesome stock will profit from these circumstances.
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