The Indonesian smartphone market grew 20% year-on-year in Q2 boosted by the vendor promotion during the holiday season.
Counterpoint Research detailed in its report, Islamic holiday Eid occurred in the second quarter, promoting retailers and vendors to begin price promotions. The analyst house noted the growth is compared to a lull last year when economies were hit by macroeconomic headwinds.
Xiaomi took top spot in Indonesia commanding 18.1% of shipments in Q2 as it strengthened its proposition in the under US$200 smartphone segment. In second place was Oppo which saw flat growth, securing 17.9% market share.
Vivo was highlighted for taking third from Samsung by surging 27% YoY scooping 17.7% market share. In the quarter Vivo expanded its portfolio across multiple price segments.
The Korean vendor was pushed down to fourth and experienced only 5% growth, taking 16% market share.
Meanwhile, Realme placed fifth with 10.3% market share and shipments grew 17%. Finally, Infinix secured sixth with 9.8% market share, after shipments increased 15%.
5G smartphones surge
Shipments of 5G smartphones almost doubled (98%) year-on-year and such devices now account for 32% of overall shipments. This growth was driven by mid-range devices priced between US$200-US$399.
Samsung had the highest market share in the 5G smartphone segment with 31%, while Oppo and Vivo grew their 5G shipments to have a combined share of 39%.
Counterpoint Research 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.”