Canalys: Southeast Asia smartphone shipments to grow 20% year-on-year in January 2024

Highlights of the five major markets in Southeast Asia

In January 2024, smartphone shipments in Southeast Asia's five major markets soared to 7.26 million units, a significant increase of 20% year-on-year.

In January 2024, Samsung regained the top spot from Transsion with the successful launch of its high-end S24 series, which increased brand awareness and stimulated increased channel engagement.

In 2023, smartphone makers focus on reducing sales and clearing out obsolete inventory, thereby normalizing inventory levels.

Driven by economic recovery, product launches and online marketing investments, consumer spending surged during the December holiday period, and smartphone vendors took advantage of this positive momentum to stimulate market recovery by launching products and offering channel incentives.

Key Market Dynamics

Indonesia

Indonesia remains a strategic market in Southeast Asia, with 2.7 million units shipped in January, accounting for 38% of the region's shipments. Sales increased by 12% compared to the same period last year, mainly due to increased supplier participation, especially new product launches. OPPO regained its leading position, mainly by expanding shipments of its Ax8 series, accounting for more than 90% of its total shipments. Xiaomi's shipments increased by 30% year-on-year.

the Philippines

The Philippines remained the second largest smartphone market in Southeast Asia, accounting for 21% of shipments, reaching 1.5 million units. It showed the strongest recovery, with a year-on-year growth of 77%. Transsion gained 37% market share in January. In response to Transsion's dominance, Realme launched the Note 50 series priced under $100, offering compelling value in the market competition.

Thailand

In Thailand, where smartphone shipments grew 5 percent annually to 1.3 million units, Samsung and Apple's long-standing partnerships with local carriers give them an edge in the market.

Vietnam

Vietnam was the only market in the region to decline, with smartphone shipments falling 2% to 848,000 units in January. The recovery of Vietnam's smartphone market was slower than expected. Xiaomi is working hard to revive its influence in the Vietnamese market, increasing its market share from 5% in January 2023 to 19% in 2024, thanks to a 288% increase in smartphone shipments.

Malaysia

Malaysia is known for its resilience in the region’s smartphone market, with smartphone shipments up 33% month-on-month to 831,000 units in January. Operators’ market share rose from 17% in Q1 2023 to 21% in Q4, peaking at 22% in September. Samsung and Honor’s continued efforts to partner with operators and drive Malaysia’s 5G projects throughout 2023 were successful. In January, Samsung became the market leader with a 20% market share, while Honor’s shipments doubled from last year.