Competition in the smartphone market is continuing at full speed. Dozens of manufacturers including major players like Samsung, Oppo, Xiaomi, and Vivo are fiercely competing to sell more products and expand their market share. So, do you ever wondered who is leading the race? Canalys, known for shedding light on various industries through its research, has recently revealed insights into the Southeast Asia smartphone market. Here are the details…
Southeast Asia Smartphone Market Declines but Shows Signs of Recovery
In Q3 2023, the smartphone market in Southeast Asia saw a 4% decline, totaling 23 million units. This dip was linked to unstable macroeconomic factors like inflation and high interest rates. Despite these challenges, there’s a silver lining as the rate of decline has lessened to single digits, hinting at a possible recovery.
Examining the current market situation, Samsung remains the leader. However, this doesn’t necessarily indicate smooth sailing for the company. Their market share has declined by 26%, with phone sales dropping from 6 million in the previous quarter to 4.4 million in the Q3 2023. Oppo, in the second spot, also saw a 9% decrease, while Xiaomi, holding the third position, experienced an 8% growth. The notable standout is Tecno, which astonishingly grew by 69% in just one quarter, selling an equivalent number of phones as Xiaomi.
| Vendor | Q3 2023 shipments (million) | Q3 2023 market share | Q3 2022 shipments (million) | Q3 2022 market share | Annual growth |
|---|---|---|---|---|---|
| Samsung | 4.4 | 19% | 6.0 | 25% | -26% |
| Oppo | 4.1 | 18% | 4.5 | 19% | -9% |
| Xiaomi | 3.4 | 15% | 3.2 | 13% | 8% |
| Tecno | 3.4 | 15% | 2.0 | 8% | 69% |
| Vivo | 2.7 | 12% | 3.6 | 15% | -24% |
| Others | 5.0 | 22% | 4.8 | 20% | 5% |
| Total | 23.0 | 100% | 24.1 | 100% | -4% |
As we approach the end of the year, sales and financing options are anticipated to boost consumer demand, ensuring the Southeast Asian smartphone market’s ongoing recovery in the upcoming quarters. Nevertheless, brands should stay alert and adjust their strategies to tackle upcoming challenges. Prioritizing affordability, expanding distribution channels, and introducing innovative offerings will be crucial for maintaining competitiveness in this dynamic and rapidly expanding market.
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