According to study, China’s smartphone market is still weak, while Southeast Asia’s is growing rapidly this year.

By flymultimediaghana Mar12,2024
Prev1 of 2
Use your ← → (arrow) keys to browse

The top five markets in the region received 7.26 million smartphone handset sales, a remarkable 20% increase over the same period last year. The market had a dip after the COVID-19 outbreak, but it has since been rebounding gradually.

According to study, China's smartphone market is still weak, while Southeast Asia's is growing rapidly this year.
According to the study, China’s smartphone market is still weak, while Southeast Asia’s is growing rapidly this year.

According to Canalys, it is expected to rise rapidly in 2024, surpassing markets like China and North America.

As the promising market for mobile producers continues to draw more brands and investment, smartphone shipments in Southeast Asia maintained their rebound at the beginning of 2024, in contrast to a pause in other regions.

7.26 million smartphone units were supplied to the top five markets in the region, a notable 20% rise over the same period last year, according to information released on Wednesday by technology market analysis firm Canalys.

Tune in and enjoy FLY FM GH

The findings build on a market recovery that started in the fourth quarter of 2023, when phone shipments from Southeast Asia rose year over year for the first time in over two years as part of a larger industry recovery following the epidemic.

Analyst Le Xuan Chiew of Canalys claims that consumer morale and spending have rebounded as a result of moderating inflationary pressures, which have been bolstered by government support and momentum from year-end 2023 sales events in the region.

He noted trends like affordable 5G, AI integration, ecosystem development, and channel optimization. “To capitalize on this market resurgence, smartphone manufacturers, which adopted conservative strategies in the last six months, are now deploying aggressive tactics to gain market dominance,” he said in the release.

See also  CEO of Tesla says trade obstacles won't stop Chinese EV companies from "demolishing" competitors.

Thanks to the successful launch of its premium S24 series, which included longer battery life and new AI capabilities, Samsung was able to reclaim its top market share position in the region in January.

However, Chinese rivals are increasing their market focus, gaining ground, and releasing new phone models at competitive costs. Comparatively speaking, Transsion, a relatively new brand to the market, had growth of 190% year over year, while Xiaomi, the second-largest phone brand in that region based on shipments in January, saw growth of 128%.

“There are good reasons to expect increased investments in the region due to the growing middle class and the influx of young people into the workforce,” Cheiw stated.

Prev1 of 2
Use your ← → (arrow) keys to browse

x