Canalys: Southeast Asia's smartphone market will reach 25 million units in Q3 2024, a year-on-year increase of 15%

Research firm Canalys released the latest data on the Southeast Asian smartphone market in the third quarter of 2024. In the third quarter, OPPO led the Southeast Asian market for the first time. Data showed that in the third quarter, the Southeast Asian smartphone market grew by 15% year-on-year to 25 million units. Among them, OPPO shipped 5.1 million units, 21%, surpassing Samsung, mainly due to the hot sales of its entry-level models A3x and A3.

Samsung ranked second with a market share of 16%, and Transsion ranked third with shipments of 4 million units and a market share of 16%.

Thanks to the strong growth of cost-effective models such as Redmi 14C and Redmi A3, Xiaomi ranked fourth with a market share of 15% and shipments of 3.9 million units. Vivo ranked fifth with a market share of 10% and shipments of 2.6 million units.

Canalys analyst Zhou Shengyong said: "In the third quarter of 2024, while shipments grew, the region's ASP fell by 4%. The main reason for the price drop is the increase in new mid- and low-end product launches and the oversaturation of equipment. In particular, mass market (US$100-US$300) manufacturers find it difficult to differentiate themselves except for focusing on high cost performance, so they rely heavily on promotions and discounts to drive sales. In addition, the heavy discounts on old models and the launch of new models have created a price conflict, which has exacerbated the problem."

Zikuai Technology