Source: Counterpoint Research Southeast Asia Monthly Smartphone Channel Share Tracker, November 2022 Southeast Asia's mobile phone shipments should have been bullish in September, but consumer sentiment remained depressed in 2022, and consumption in the quarter was directly affected. Faced with economic turmoil, the bottom masses are in a difficult situation, and mobile phone shipments have generally decreased and inventories have increased. We expect the fourth quarter festival season to warm up the market to some extent. There were also differences in performance at the brand level in the third quarter of 2022. Samsung's shipments fell 13% year-on-year, but Apple's shipments in major countries increased 63% year-on-year, with the growth rate in the Vietnamese market higher than that of neighboring countries. 5G smartphones have been a flop in Indonesia and Vietnam, but are gaining popularity in Thailand and the Philippines, where networks are more developed and consumers are more tech-savvy. Operators continue to offer consumers better value packages. Specifications such as processor, RAM, memory space, battery capacity and charging speed remain top priorities for consumers. While consumers in Indonesia and Vietnam have not yet actively considered 5G as a purchase consideration, they also tend to view it as a necessary feature for the future. Operators such as Globe in the Philippines are actively expanding 5G infrastructure build-out from urban areas, while in Indonesia, industries such as mining have begun to adopt 5G technology. 5G smartphones in the $200-400 price range grew 73% year-on-year, indicating that most OEMs are making 5G a major selling point. Source: Counterpoint Research Southeast Asia Monthly Smartphone Channel Share Tracker, November 2022 Talking about the economic situation, senior analyst Glen Cardoza said: "Most Southeast Asian countries, such as Indonesia, Thailand and the Philippines, raised interest rates in the third quarter of 2022 to ease the impact of rising prices on ordinary consumers. The average inflation rate in most Southeast Asian countries this quarter is 5%, which is not panic-inducing, but it has already affected consumers. Rising prices for fuel, logistics and daily necessities have forced consumers, mainly blue-collar workers or those in disadvantaged industries, to live within their means and slow down large expenditures on smartphones, etc. Faced with a sharp drop in tourists, Thailand is still striving to restore its economy to pre-COVID-19 levels, while Vietnam's GDP growth rate in the third quarter has reached 13%. These are also reflected in smartphone shipments in the past few months." OEMs still have excess inventory of older models, and they may try to use all possible marketing tools to vigorously promote them in offline and online channels. New models launched since August will continue to compete for the market, most of which are 5G phones. Offline retailers may expand the layout of experience stores, improve payment convenience, give trade-in discounts, and provide better after-sales support. Models such as Samsung Galaxy A04 and Vivo Y02 are expected to lead low-end smartphone shipments again, which is an important sign that the market has returned to normal. * Major Southeast Asian countries include Indonesia, Thailand, the Philippines and Vietnam |
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