Southeast Asia Smartphone Market Rebounds for 2024

Despite challenges posed by the poor macroeconomic situation and inflation, which have impacted consumer purchasing power and market demand, the region saw a gradual resurgence in consumer interest in smartphones. This revival can be attributed to the introduction of new brand products and the implementation of sales channel stimulus policies.

According to a recent report by Canalys, most vendors shifted their focus to increasing market share by introducing volume drivers. The  Philippines, known for its their price-sensitive market, experienced the most significant resurgence achieving a remarkable 32% year-on-year growth with TRANSSION spearheading this recovery by increasing shipments of its Smart and Spark series and effectively utilizing social media platforms to promote its Phantom V Flip model.

Its emergence serves as a significant player, particularly in Indonesia where the company has experienced notable success. Xiaomi, on the other hand, has strategically streamlined its product line and adopted a competitive pricing strategy for its flagship models, leading to improved profitability.

Despite OPPO's success in brand promotion, the company faces stiff competition due to its limited presence in the ultra-low-end market segment. Canalys predicts that smartphone shipments in Southeast Asia will continue to grow, projecting a 7% increase in 2024. The surge in shipments seen in 2021 is expected to drive many consumers to replace their devices in 2024.