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The smartphone market in Southeast Asia grew by 12% in the first three months of 2024, according to Canalys.

  • Updated: 23 May 2024
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The smartphone market in Southeast Asia grew by 12% in the first three months of 2024, according to Canalys.

Canalys' latest report shows the Southeast Asian smartphone market grew by 12% in the first quarter of this year compared to the same period last year. This is seen as a sign of recovery after a tough 2023. Smartphone companies shipped 23.5 million units, but this number is still lower than before 2023.

One reason for the success in the first quarter is the celebration of Ramadan in countries like Indonesia and Malaysia. Additionally, companies like Transsion did well in markets like the Philippines and Indonesia, where cheaper phones under $100 became popular again.

Despite a 20% drop in shipments compared to last year, Samsung remains the leader with a 19% market share. Samsung is focusing more on mid-range and high-end phones, expecting consumers to prefer these more expensive models in the future.

Transsion, which owns brands like Infinix, Tecno, and iTel, took second place with an 18% market share and grew by an impressive 197% compared to last year. It outperformed Oppo and Xiaomi, with Xiaomi seeing a 52% increase in sales, while Oppo's sales fell by 12%.

Analysts are positive about the future and predict a 4% overall market growth in 2024. However, uncertainties like changing currency values and component costs could affect growth. Companies with good supply chains and enough inventory are expected to do well in these conditions.

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