The Zhitong Finance App learned that Canalys said that in the first quarter of 2024, the Southeast Asian smartphone market shipped 23.5 million units, an increase of 12% over the previous year. This shows signs of macroeconomic recovery, but shipments are still far below pre-2023 levels. Canalys predicts smartphone shipments in Southeast Asia will increase 4% in 2024. Most vendors are wary of expecting a significant increase in external sales due to the natural renewal cycle.

Canalys analyst Sheng Win Chow (Sheng Win Chow) said, “Smartphone manufacturers have achieved growth through healthier channel inventories and increasing consumer confidence. The manufacturer's efforts to normalize the channel at the end of 2023 paid off in the first quarter of 2024 because the sales channel is in a healthier state and can handle more shipments. Ramadan has catalyzed increased shipments in markets such as Indonesia and Malaysia, and people are spending more on smartphones than last year due to the increase in Ramadan bonuses.”

“Samsung maintained its leading position in Southeast Asia, with a 19% market share, but shipments declined 20% year over year. Given that Samsung's product strategy is to prioritize expanding the middle and high-end markets, including the Galaxy S, A5x, and A3x series, a decline in its shipments is also to be expected. Although the A1x, A0x, and A2x series are still Samsung's main force in the mass market, due to strategic changes, Samsung's growth is expected to come from the high-end market in the future.”

Chow Sheng-wing also said, “Transmission is in second place with a market share of 18% and an annual growth rate of 197%. During Ramadan, Voice and mobile game companies collaborated to launch a joint brand, which was well received by young people. Voice has successfully attracted this market segment by providing high-performance gaming devices at affordable prices. vivo accounts for 12% of the market share, with a shipment volume of 2.8 million units, an increase of 12% over the previous year. Driven by popular products such as the Y17S, Vivo has secured its market share and focused on developing the middle and high-end markets through the Y100 and V series.”

Canalys analyst Le Xuan Chiew (Le Xuan Chiew) said, “In price-sensitive markets such as Indonesia and the Philippines, shipments of equipment in the price range below $100 have recovered. Currently, there are more and more affordable devices with high core configurations in these markets, enabling consumers to upgrade their configurations at lower prices. Transmission's success in the Philippines is mainly due to its three sub-brands Infinix, Tecno, and iTel, which are able to differentiate similarly priced devices. Infinix's market expansion is mainly achieved through cooperation with dealers' brand-direct stores. Tecno focuses on multi-brand stores and wholesalers, while iTel supplies directly to consumers entirely through the Internet. With the launch of the Galaxy S24, Samsung took the lead in the Thai, Malaysian and Vietnamese markets in the first quarter of 2024. This is due to the fact that these markets are more suited to Samsung's high-end strategy. Samsung can use high-end channels such as brand experience stores and telecom channels to support the growth of flagship devices such as the Galaxy S24.”

Canalys said that although the market experienced a 12% rebound in the first quarter of 2024, most of the growth was in price-sensitive markets such as Indonesia and the Philippines. Looking at the recent past, unstable factors such as exchange rate fluctuations and component costs have brought new challenges. Vendors with good supply chains and operational efficiency will be more likely to succeed. However, in the long run, the outlook for the Southeast Asian market is optimistic. The young population and the growing popularity of digital financial services are a powerful driver of growth in consumption, which will stimulate the market's demand for high-end devices. Tim Cook recently visited the Singapore and Indonesian markets, reflecting Apple's interest in the region.