IDC: Indonesia's smartphone market to grow 15.5% year-on-year in 2024

According to the IDC Worldwide Quarterly Mobile Phone Tracker, Indonesia’s smartphone market is expected to grow 15.5% year-over-year to nearly 40 million units in 2024. After multiple quarters of decline, vendors saw strong growth in the first half of 2024.

In the fourth quarter of 2024, Indonesia's smartphone market grew by 9.6% year-on-year and fell by 0.2% quarter-on-quarter. Although merchants hoped to take advantage of the "Double Eleven" event at the end of the year, demand slowed down as consumers became more concerned about the current economic situation.

In 2024, growth was mainly driven by the ultra-low-end market (less than $100), led by Transsion. The mid-range market (US$200-US$600) grew strongly, up 24.9% year-on-year, with OPPO leading the market. On the other hand, high-priced smartphones above $600 fell sharply by 9.2%, mainly due to the ban on the iPhone 16 in the fourth quarter of 2024.

The average selling price (ASP) remains stable, decreasing 0.5% year-over-year to reach $195 in 2024.

5G's share grows significantly from 17.1% in 2023 to 25.8% in 2024. This growth is mainly driven by the release of new models in 2024 and increasingly affordable 5G products. Samsung still leads the 5G market share, and OPPO will not close the gap until the end of 2024. 5G ASP drops 20.4% year-on-year to $441 in 2024.

Vanessa Aurelia, research analyst at IDC Indonesia, said: “Growth is expected to be in the low single digits in 2025. While the market does see a recovery in 2024 after years of decline, it is still not out of the woods. Consumers continue to feel anxious amid global political and economic uncertainty. Growth continues to come from supply-side forces, while demand remains generally subdued.”