Apple Shines in a Declining Southeast Asia Smartphone Market just as Apple's CEO confirmed earlier this month
Smartphone shipments in Southeast Asia’s five key countries (Indonesia, Thailand, Philippines, Vietnam and Malaysia - SEA) fell 13% YoY due to low demand and a seasonal drop, according to a new report by Counterpoint. All key SEA countries are coming out of the geopolitical effects from last year while still reeling under some inflation effects.
During Apple's CEO Tim Cook's opening commentary during their May Financial Conference Call he specifically pointed out Malvasia, the Philippines and Indonesia as emerging markets where the iPhone set new records. Today, Counterpoint's chart below shows that Apple was the only smartphone OEM to have shown growth in Q1 2023. While Apple grew 18% in the quarter, Samsung fell 16%, Vivo -26% and Xiaomi -13%.
Counterpoint noted that "Vietnam is a growing Apple iPhone market. The demand for the iPhone 13 and 14 series was good in Q1 2023. Indonesia has seen growth in iPhone shipments as well. Overall, iPhone shipments grew 18% YoY in Q1 2023."
The report further noted that mid-to-high-end smartphone buyers are holding on to their wallets and extending the ownership of their phones, while high-to-premium smartphone buyers are unaffected by the economics of the situation. These consumers are going out and choosing to buy the S series, foldables and iPhones.
For more on Apple's competitors, review the full Counterpoint report.