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Electric Vehicles Gain Ground in Southeast Asia; Thailand Dominates Volumes

Thailand led the region’s passenger EV sales in 2022 with a 58% share.
Nearly two in three EVs sold in 2022 were BEVs.
Wuling’s newest model Air EV was the region’s bestseller.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –3月31日, 2023

Passenger electric vehicle (EV*) sales** in Southeast Asia (SEA^#) accounted for just under 2% of the region’s total passenger vehicle sales in 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker．Thailandwas the most advanced, accounting for 58% of the region’s EV sales, followed byIndonesiaandVietnam．Thailand’s government has been pushing EV sales through demand-side incentives and corporate income tax incentives for EV manufacturers.

Wuling’s Air EVwas the best-selling model across the region in 2022, being one of the most affordable EV options. In terms of automotive groups,Vingroupled the SEA EV sales, closely followed byWuling(part of SAIC-GM-Wuling group) andVolvo(Geely Holdings subsidiary). Battery EVs (BEVs) represented 64.6% of the total EV sales while plug-in hybrid EVs (PHEVs) constituted the rest.

Commenting on the market dynamics,Research AnalystAbhilash Guptasaid, “Passenger EV demand is increasing gradually across the SEA region but sales are tiny compared toglobal EV sales, constituting just 0.5% of the global total for 2022. However, as geopolitical tensions are rising between China and the West, SEA is becoming an attractive option for Chinese auto manufacturers looking to expand abroad. Therefore, we can expect to see more production plants in SEA in the longer term, which will help boost EV sales.Thailandhas the largest auto manufacturing sector in SEA. It is aiming to leverage its manufacturing expertise to attract automakers to produce and sell EVs there.IndonesiaandVietnamhave the advantage of mineral resources, which gives them an edge over others in the region. The SEA countries have set lofty EV targets and have introduced many incentives to promote EV adoption among consumers and to attract EV manufacturers to set up bases.”

Source: Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker, Q4 2022

Commenting on the market outlook,高级分析师Soumen Mandalsaid, “Although EVs are currently a niche market in SEA, we do expect their sales to double in 2023. However, it will be difficult for the SEA countries to achieve theirEV targetsand increase the share of renewables in the electricity grid at the same time.

SEA countries have the opportunity to display their manufacturing capabilities and grow, given the interest of many international auto manufacturers to invest in the region. Those that enter the market early will have an edge, allowing them to secure a substantial share of the market. The SEA region could adopt the approaches taken byChinaandEurope, which provide incentives based on CO₂emission levels. Doing so would encourage both consumers and manufacturers to shift towards more environment-friendly vehicles.”

*For EVs, we consider only BEVs and PHEVs. This study does not include hybrid EVs and fuel cell vehicles (FCVs).

**Sales refer to wholesale figures, i.e., deliveries from factories by the respective brands/companies.

^#SEA includes Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q4 2022’ is now available for purchase atreport.www.arena-ruc.com．

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Abhilash Gupta

Soumen Mandal

Brady Wang

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

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Thailand Leads Southeast Asia EV Market With 60% Share

Southeast Asia’s electric vehicle sales grew 35% YoY in Q3 2022.
The top five brands accounted for almost 67% of the region’s passenger EV sales.
The sales are expected to cross 3.5 million units by 2030 at a CAGR of 124%.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –December 21, 2022

Passenger electric vehicle (EV*) sales** in Southeast Asia (SEA)^#grew 35% YoY in Q3 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker．Thailand registered the highest EV sales volume in the region, capturing almost 60% share, followed by Indonesia and Singapore. Battery EVs (BEVs) constituted 61% of the sales and plug-in hybrid EVs (PHEVs) the rest. The top five brands accounted for almost 67% of the EV sales in SEA.Wulingemerged as the best-selling EV brand followed by Volvo and BMW.

Commenting on the market dynamics,Research Analyst AbhilashGuptasaid, “Although thepassenger EV salesin SEA are small compared to other regions, the demand is gradually increasing. Currently, EV sales are just a tad over 2% of total passenger vehicle sales in the region. Many OEMs are setting up or are planning to set up manufacturing plants across the region due to favorable policies, subsidies and incentives by major SEA countries like Thailand, Indonesia, Singapore and Malaysia.”

Market summary

Thailand’s EV market has grown tremendously this year, making it SEA’s undisputed EV leader. The country grabbed almost 60% of EV sales in SEA in Q3 2022. It aims to achieve 100% domestic sales from BEVs by 2035. Subsidies, excise duty waivers and import tax reductions have put Thailand on the right path in its EV journey.

Indonesiatook 25% share in the SEA passenger EV market sales for Q3 2022. Also, during Q3, the country registered its highest EV sales volume till now. The Wuling Air EV model launched during this quarter became an instant hit here and was the best-selling EV model. Recently, many companies have announced plans for setting up EV battery production units in Indonesia, which is in line with the country’s target to build 140 GWh of battery capacity by 2030. Indonesia is a major player in vehicle production in SEA.

Singapore,another growing EV market, captured almost 12% share of the SEA EV sales. It has a target to achieve 100% zero-emission vehicle sales by 2030 and has introduced various incentives, policies and schemes to increase EV adoption. Alongside, it is also trying to develop a well-connected network of 60,000 charging points by the end of this decade.

Malaysiaonly had a 3% share in the SEA EV market in Q3 2022. Nonetheless, the Malaysian government is supporting the adoption of EVs and has exempted EVs from road, import, excise and sales taxes. Further push to develop charging infrastructure will boost EV sales.

Vietnamannounced zero registration fee for EVs in March 2022. Vinfast, the major EV brand, recently discontinued its ICE models to focus on EVs. The future looks promising for the EV market to flourish in Vietnam.

Commenting on the market outlook,高级分析师Soumen Mandalsaid, “The SEA region’s automotive sector is mainly occupied by Japanese OEMs. However, with the shift in focus to EVs, they are facing stiff competition from the中国人, South Korean and few local players. Affordability remains a major bottleneck for the region’s EV growth. But the scenario is changing with the availability of some cheaper EV options by Wuling, BYD, GWM and SAIC. Unlike developed EV markets such as the US andEurope, low-priced EV options are gaining popularity in emerging markets like Thailand and Indonesia. According to Counterpoint’sGlobal Passenger Vehicle Forecast, the SEA EV market is expected to grow at a fast pace and by the end of this decade EV sales are expected to cross the 3.5-million mark at a CAGR of 124%.”

*For EVs, we consider only BEVs and PHEVs. This study does not include hybrid EVs and fuel cell vehicles (FCVs).

**Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

^#SEA here includes Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q3 2022’ is now available for purchase atreport.www.arena-ruc.com．

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

Analyst Contacts

Abhilash Gupta

Soumen Mandal

Brady Wang

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

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Podcast #57 – Will 5G Offset Macroeconomic Weakness in SEA Smartphone Market?

Southeast Asia, one of the world’s most promising markets, saw itssmartphone shipments declinein Q2 2022. But despite this,Thailand’s premium smartphone marketgrew 22% YoY, confirming a key trend in the overall Southeast Asian market. Other key trends in the region include the growth ofgaming and 5G smartphones．

Rising inflation and reduced consumer spending are resulting in a lengthening smartphone replacement cycle. So, how are OEMs navigating this trend with different financial schemes, easy upgrades, cashbacks and more? 5G smartphone shipments in Southeast Asia markets are also growing, so how are operators geared up for rolling out 5G services and demonstrating their use cases?

In the latest episode of ‘The Counterpoint Podcast’, host Tarun Pathak is joined by Senior AnalystsFebriman AbdillahandGlen Cardozato discuss the key trends in the SEA smartphone market. From falling shipments to H2 2022 outlook, 5G and online vs offline, we discuss all this and more in the podcast.

Hit the Play Button to Listen to the Podcast

You can read the podcast transcripthere．

Podcast Chapter Markers

01:42 –Glen talks about smartphone shipments decline in Southeast Asia and key trends to look for.

03:10 –Febriman weighs in on smartphone OEM strategies as rising inflation is resulting in reduced consumer spending.

05:26 –Glen on how OEMs are navigating the trend of lengthening replacement cycle.

07:44 –Febriman talks about different financial schemes from brands to push consumers to upgrade to newer devices.

10:32 –Glen on how online channels are shaping up in key Southeast Asian countries.

12:34 –Febriman on offline channels in Southeast Asian countries and how distributors are increasing their reach.

15:27 –Glen talks about 5G in Southeast Asia from the devices’ point of view, and how it is trickling down to lower price points.

17:50 –Febriman on how operators are preparing for 5G rollout, creating awareness and demonstrating use cases.

20:58 –Glen and Febriman discuss the H2 2022 outlook for the SEA smartphone market.

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Southeast Asia Can’t Get Enough of Smartphone Gaming

Gamingas an industry has been growing in leaps and bounds globally. While consoles and PCs are widely used platforms, the smartphone gaming demographic is growing the fastest and this is particularly seen inSoutheast Asia．The region also looks to be more promising as there are many factors propelling the current growth, chief among them being a whole new demographic adopting smartphones, getting digitally savvy and getting to know the gaming world. There are other important factors like increased internet connectivity and favorable changes accelerated by the COVID-19 pandemic in the last two years.

There are many other reasons at the country level as well, but there is one undeniable factor that would not have made this growth possible – smartphones. According toCounterpoint Research’s Southeast Asia Smartphone Tracker,key Southeast Asian countries’ (Indonesia,Thailand, Philippines, Malaysia and Vietnam) smartphone shipments in 2021 were back to 2019 levels.

Source: Counterpoint Research Southeast Asia Smartphone Tracker

Gaming smartphonescontinue to see an increase in demand. During the festive season in Q4 2021, gaming smartphones saw a 270% YoY increase. The affluent gamer demographic is growing exponentially, and this trend is likely to increase with all the focus that gaming is getting in these markets. Along with consumer interest, there is an increased focus one-gamingfromgovernmentsand industry players across the ecosystem. Currently there are more than 102 million active smartphone gamers in the 5 key Southeast Asian countries and this number is bound to increase in the coming years.

Source: Counterpoint Research Southeast Asia Smartphone Tracker

Indonesia,Malaysia, Thailand,Vietnam, Singapore, and the Philippines are the six most significant countries for mobile gaming in Southeast Asia. Whether they are small quick games to pass some time or more engaging strategy and shooter-type games, the gamer consumer base has gone up in the region just as fast as smartphone adoption over the last two years.

Factors pushing gaming growth over the last two years:

Investments ininternet penetration, especially in Tier 2 and Tier 3 cities.
Increased focus on 5G infrastructure growth and adoption.
Consistently growingdemand for smartphones, gaming smartphones in particular.
An effective way to pass the time when stranded at home during pandemiclockdownsand restrictions. For many people, less work or no work is a motivation to play on smartphones.
An escape from ongoing volatility in macroeconomic factors likeinflation, sustained COVID-19 repercussions, war situation in Europe and other more country-level factors.
Widening choice with multiple gaming genres (like strategy, shooting and e-sports) across multiple platforms (mobile, PC, console and even television).
Types of games all the way from casual to elaborate heavy-duty games that make a player a full-time earning pro-gamer. Some countries in this region also promote international gaming tournaments.

Connectivity and Ecosystem Initiatives:

Connectivityhas played a vital role in increasing online gaming in the region.Fixed broadbandconnections have seen tremendous growth in the last two years along with a jump in new subscribers. Tier 2 and Tier 3 cities in the key SEA countries have seen some major growth as well. Broadband, whether fiber or fixed wireless, makes up more than 38% of the base in these key SEA countries. 5G connectivity is being improved starting with metro and Tier 1 cities. 4G connectivity is being increased throughout these countries as well. All this has played a major role in pushing the gaming culture irrespective of geography, age, gender, or economic background of the user.

OEMs have understood that a good gaming experience is supposed to be a necessity even for the casual gamer and not just the heavy-duty gamer.

Esports is big in thePhilippines．realme, one of the top smartphone brands in the country, has partnered with the national team SIBOL for esport tournaments. realme itself has its pro-gaming tournament ‘Realme Mobile Legends Cup’ in the country.

Infinixis an upcoming brand in most Southeast Asian countries. Its focus on gaming models has led to the brand being considered for low-range to mid-range smartphones for gaming. Gaming smartphone biggies likeAsushave said that the gaming smartphone business is not yet profitable for them, but they are still sticking to their image and launching more gaming phones.

Operators likeDtacinThailandare offering gamers a specialized package with maximum speed and special internet lanes to make sure excess usage does not result in lags.

Top semiconductor companiesQualcommandMediaTekhave been focusing on thegamingconsumer for a while now with gaming-related chipset versions of their standard offerings. Even chipset makers likeARMhave been considering gaming as a motivation behind future tech. ARM recently came out with a gaming-specific chip.

The Changing Ecosystem:

There is a mix of low-end to high-end smartphone users in each of the SEA countries, but every country shows different characteristics and preferences in gaming genres. Southeast Asia’s consumer base is maturing. Indonesia and Thailand are the region’s largest revenue earners, followed by the Philippines andMalaysia．TheIndonesianmarket is not only the region’s largest but also the fastest growing. In Southeast Asia, the younger population, which used to play smaller games on cheaper phones, is upgrading to mid-tier phones and preferring more heavy-duty games.

It is already established that SEA is a huge gaming market with more potential but there are many factors changing this volatile tech trend currently.

Trends changing the gaming ecosystem:

Female gamers lead male gamers in many areas of the region. Most avid gamers can be found between the ages of 25 and 60. The bulk of this demographic in the region usually does not have a very high-priced smartphone. This means that even low-range to mid-range smartphones are being used for gaming and not necessarily just for casual games.
Increase invideo contentrelated to gaming, with the rising viewership on online platforms such as Twitch and YouTube, is resulting in marketing initiatives across platforms, apps and games.
Cloud-based gamingand interconnectivity of gaming platforms are likely to affect device purchases in the coming year. There is an opportunity for consumers to opt for phones with lower specifications. As cloud gaming increases its footprint, gamers will only need a steady, fast internet connection.
应对频繁的生产由于boredo更高m levels in casual games, more variety is now being introduced in these games. Game makers are investing in research, marketing campaigns and, more importantly, associating with the right players in the ecosystem.
Consumers are actively demanding the capability to play heavy-duty console and PC games on mobile platforms. This is a big opportunity for smartphone OEMs especially with growth in 5G connectivity.

Gamers and their Smartphones:

Source: Counterpoint Research

Gamerswho are invested in heavy multiplayer graphics online games like PUB G make up a smaller portion of the pie in this region. Instead, games like Subway surfer, Mobile legends, Arena of Valor, Roblox and Free Fire are played the most.

Gaming companies are making sure that smartphone versions of their games are available and that the hardware requirements need not be too high to enjoy these games on the mobile phone. Multiplayer gaming platforms on mobiles are nascent in this region as of now but as the telecom sector advances, this gaming preference is set to grow.

5G and Gaming:

5Gpenetration into gaming will be a slow process for another 2-3 years, especially for major markets like Indonesia. While Singapore is leading the curve in 5G,Thailandand thePhilippinesare more capable of advancing with5Gin gaming. The future of cloud gaming and multiplayer mobile setups, however, is bound to remain bleak in this region as compared to the West.

The 5G share in monthly smartphone shipments is likely to reach well above 45% by the end of this year. Most gamers, whether casual or professional, will look to include5Gin their gaming experience, especially since there is growth in the smartphone version of games usually played on consoles and personal computers.

Source: Counterpoint Research Southeast Asia Smartphone Tracker

The Future of Gaming

Though Southeast Asia has the highest number of gamers in Asia, it contributes the least revenue. The entry point of free games is a crowd puller, but gaming companies and developers are trying to have a stronger revenue model. Ecosystem players have focused on all segments of consumers and made sure that multiple platforms can cater to different demographics based on their convenience and motives. Mobile gaming in Southeast Asia is capable of not just increasing gamer volumes and revenue but also spreading across multiple sectors like retail,e-commerceand sports.

While gamers in Southeast Asia are spread across early teens to senior citizens, the 18-35 age bracket is the one contributing most to the maturing gamer ecosystem.

在接下来的几个月,我们可能会看到更多的标志eting initiatives on platforms, and gaming business models centered around profit generation, which could be through increased micro-transactions within free game offerings. OEMs, operators, and retail distributors will combine the gaming aspect much more with their offerings.

Philippines Smartphone Shipments Down 5% YoY in Q1 2022 on Supply Issues, COVID-19 in China

The Philippines smartphone shipments decreased 5% YoY and 13% QoQ in Q1 2022.
Samsung led the market with a 26.4% share, followed by realme at 21%, OPPO at 15.4% and vivo at 14.4%.
5G smartphone share has grown substantially to reach 27.3% of the total shipments in Q1 2022.

Hong Kong, London, Boston, Toronto, New Delhi, Beijing, Taipei, Seoul – May 26, 2022

The Philippinessmartphoneshipments witnessed a 5% YoY and 13% QoQ decrease in Q1 2022, according toCounterpoint Research’s Monthly Philippines Channel Share Tracker．短缺的关键components and COVID-19 restrictions inChina导致了出口的下降,而opening of the market and new launches checked this decline. The quarter had a slow start following seasonal trends. However, new launches hitting the market in the latter half of the quarter saw most brands increasing their overall offline and online channel shipments.

Source: Counterpoint’s Monthly Philippines Channel Share Tracker

In terms of market share,Samsungtook the top spot in Q1 2022 with 26.4% due to its newly launched A series and S22 series.realmefollowed with a 21% share driven by its C series.OPPOhad a 15.4% share driven by the Reno A series andvivohad a 14.4% share driven by its V and Y series.Xiaomisaw the highest YoY growth in Q1 2022 at 104%, taking its share to 9%, as its Redmi phones performed well during the quarter.

Talking about the factors affecting thePhilippinessmartphone shipments,Research Analyst Akash Jatwalasaid, “Samsung maintained its lead in the market due to its promotions and better performance of its S22 series. realme’s performance improved due to its affordable smartphones, especially its C series. Chinese players including Xiaomi, OPPO, vivo and realme launched various promotion campaigns on the online channel, especially on Shopee and Lazada, which also contributed to their shipments. The e-commerce sector is growing fast in the region. The online channel accounted for around 19% of the total shipments in Q1 2021, growing about 28% YoY.”

Commenting on mobile gaming,Jatwalasaid, “The Philippines is fast emerging as a major gaming market in Southeast Asia and brands are not lagging in fulfilling the gamers’ demands. High-end gaming phones such as ZTE’s Nubia RedMagic 7, Asus ROG Phone 5s and 5s Pro, and the Black Shark 4 Pro are performing well in the market. Major brands are also not behind and are partnering with gaming leagues to become the official sponsor. Samsung has partnered with MLBB Professional Leagues, whereas realme has partnered with the Philippines national e-sports team SIBOL.”

Major telecom operators Dito, Smart and Globe Telecom have been actively expanding 5G coverage to face the competition and increase customer offerings.5Gdevice penetration also increased in Q1 2022 to reach 27.3% of the overall shipments. The Philippines has one of the fastest average 5G download speeds in the Asia-Pacific region.

In the coming months, COVID-19 restrictions in China and global inflation may impact smartphone shipments. As a result, Q2 2022 may see some YoY decline in shipments. The Philippines posted a GDP growth of 8.3% in Q1 2022 with recovering consumer sentiment. We expect a growth in YoY shipments in the coming quarters.

Background:

Analyst Contacts:

Akash Jatwala

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Philippines Smartphone Shipments up 5% YoY in 2021; Samsung Takes No.1 Spot With Stronger Supply Chain

Philippines’ smartphone shipments increased 5% YoY in 2021 but decreased 10% YoY in Q4 2021.
Samsung led the market in 2021 with a 22.4% share, followed by realme at 20.9%, OPPO at 18.5% and vivo at 16.2%.
Online channels grew 34% YoY due to pandemic-induced trends.

Beijing, Seoul, Taipei, London, Boston, Toronto, New Delhi, Hong Kong – February 17, 2022

Philippines’ smartphone shipments fell 10% YoY in Q4 2021 but increased 5% YoY in 2021, according toCounterpoint Research’s Philippines Monthly Smartphone Channel Share Tracker．The third-biggestsmartphone marketinSoutheast Asiaexperienced a COVID-19 lockdown in the first half of 2021. But with an increasing vaccination rate (45.3% fully vaccinated at the end of 2021) and e-commerce gaining popularity, the second half of 2021 witnessed a 42% increase over the first half. The market is expected to regain normalcy in 2022, although elections during the year may cause some uncertainty.

Top OEMs’ Market Share in Philippines, 2020 vs 2021

Source: Counterpoint Research’s Monthly Philippines Channel Share Tracker
Notes: Xiaomi includes POCO and Redmi; OPPO includes OnePlus.

In terms ofmarketshare in 2021, the top fourOEMswere the same as in 2020. But Samsung took the first spot from vivo with a 44% YoY increase in 2021.realmemade a switch with OPPO for the No. 2 position.Senior Research Analyst Ivan Lamsaid, “Samsung’s good show was driven by its strongersupply chain．After resolving the supply and production issues in Vietnam, Samsung seized the opportunity and came up with a strategy to turn around in the Southeast Asian markets. It launched channel campaigns targeting both wider and specific customer groups. The brand maintained its uptrend in the market from Q2 2021 to the last quarter of the year. realme scored big by bringing in affordable models to target users upgrading from entry-level devices. Its C series continued to be popular among the Philippines consumers. realme’s growth was also driven by itsonlinepresence.”

E-commerce is growing very fast in Southeast Asia. In the Philippines market, online channels accounted for 16% of the total shipments in 2021 with nearly 34% YoY growth.

Senior Research Analyst Glen Cardozasaid, “With the rise ofDito, Smart and Globe Telecom have been actively expanding the 5G reach to face the competition. 5G device penetration also increased in 2021. In terms of overall price band trends, some gains were seen in the mid-tier segment. While the sub-$150 segment’s contribution declined from 60% in 2020 to 40% in 2021, the $250-$499 segment saw a significant increase due to users upgrading to higher segments or 5G phones, and OEMs pushing mid-tier devices due to the ongoing component shortages.”

Top OEMs’ Market Share in Philippines, Q4 2020 vs Q4 2021

Source: Counterpoint Research’s Monthly Philippines Channel Share Tracker
Notes: Xiaomi includes POCO and Redmi; OPPO includes OnePlus.

Philippines’ smartphone shipments decreased 10% YoY in Q4 2021.Lamsaid, “The COVID-19 restrictions, including on offline retail, were relaxed only at the end of the quarter. Consumer spending also remained impacted due to stagnant household incomes.”

Samsung took the first position in Q4 2021 with its shipments rising 22% YoY. The second position was taken by realme with an 8% YoY increase.Lamadded, “OPPO andvivoboth experienced a 4G SoC shortage and were forced to prioritize supplies for their home market China.”

Commenting on 2022 expectations,Lamsaid, “The Philippines economy expanded by 5.6% in 2021 after logging 7.7% growth in the fourth quarter. Relaxations in pandemic-related restrictions buoyed business activity. Therefore, 2022 should have a bright start. However, we need to factor in any uncertainty related to the elections that are to be held on May 9.”

Please reach out to press(at)www.arena-ruc.com for press comments and enquiries.

You can also visit ourData Section(updated quarterly) to view the smartphone market share forWorld,US,ChinaandIndia.

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Analyst Contacts:

Ivan Lam

Glen Cardoza

Tarun Pathak

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Podcast: Online Channels Help SEA Beat COVID Blues, Attract OEMs

The South East Asia (SEA) smartphone market declined in the first half of 2020 due toCOVID-19lockdowns. But as the restrictions started to ease, OEMs were quick enough to focus ononline channelsto meet the pent-up demand. Online channels inIndonesia reached their highest pointin Q4 2020, with brands likeXiaomiandrealmeleading online sales.Thailand’s smartphone marketalso saw online channels registering strong growth, leading to only a marginal overall annual decline.

With the pandemic, the market dynamics completely changed with Lazada leading the pack in the region and Shopee being the fastest-growing e-commerce platform. Smaller platforms like Bukalapak, Blibli, Akulaku and JD.ID also saw increased presence in the online space. But what were the key factors contributing to the growth? How are smartphone makers and e-commerce platforms working closely to meet consumer demand?

In the latest episode of ‘The Counterpoint Podcast’, hostMaurice Klaehneis joined by Senior Research AnalystGlen Cardozato talk about the dynamics of SEA smartphone market and growth of online channels. With COVID-19 causing disruptions in the supply chain, smartphone makers have been recalibrating and diversifying production to reduce overreliance on China. But what makesVietnam an attractive optionfor smartphone makers to invest in? Glen shares some valuable insights on this topic and more.

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Podcast: Chinese Brands Catalyzing SEA Smartphone Market

The adverse economic effects brought by theCOVID-19pandemic caused a decline in smartphone sales across several regions. The SEA (South East Asian) market, which includes countries likeIndonesia,Vietnam,Thailandand the Philippines, was no different. But as the lockdown restrictions are now easing, thismarket is seeing good recovery．There is not one, but several factors responsible for the growth, and we are going to talk about these in our latest podcast.

被压抑的deman封锁时期了d, and smartphone makers are coming up with aggressive marketing strategies to cater to the users. Competitive pricing and innovative marketing strategies such as shopping throughWhatsApphave helped smartphone makers bounce back. E-commerce platforms are also running promotional sales with discounts and more, which has further helped the growth. With users concerned about exchanging currency notes that could spread the COVID-19 virus, digital payments are slowly replacing cash.

In the latest episode of ‘The Counterpoint Podcast’, hostMaurice Klaehneis joined by research associateTanvi Sharmato talk about the SEA smartphone market. The discussion revolves around the impact of coronavirus on the smartphone market, brand strategies, and the shift from offline to online sales. The episode also highlights how brands are recalibrating and diversifying production to ensure minimal disruption if such a situation arises again.

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realme’s SEA smartphone shipments grew fastest in Q2 at 141% YoY, despite a declining market

realme entered the top 5 brands in all key SEA markets (Cambodia, Indonesia, Malaysia, Myanmar,
Philippines, Singapore,Thailandand Vietnam) for the first time.
In other Asia Pacific markets like Australia, Taiwan, and Pakistan, realme was successful in becoming
one of the top 5 brands. In Bangladesh, it grew 1000% QoQ (albeit from a low base) to take 6% of the
market.

New Delhi, Mumbai, Hong Kong, Taipei, Seoul, San Diego, London, Buenos Aires – Aug 28th, 2020

According to the latest research from the Counterpoint Research Market Monitor service, realme continued to be the fastest-growing brand in the South East Asia (SEA) region, growing 141% YoY and 64% QoQ to capture 13% market share. Despite the SEA smartphone market declining 19% YoY amidst the COVID-19 outbreak, realme continued its growing streak and became one of the top 5 smartphone brands in all key markets in the region.

Exhibit 1: realme performance in key SEA markets Q2 2020

In the Philippines, realme grew 97% QoQ and surpassed Oppo, Xiaomi, and Samsung to take the second position; rising from the fifth spot in the previous quarter. Similarly, in Malaysia, realme surpassed Apple, Xiaomi, and Oppo to reach the third place in the market. realme is the popularizer of “5G” in Thailand, it ranked first in 5G shipments with a 43% share of the nascent 5G market. In Singapore, realme grew 100% QoQ to enter the top 5 brands for the first time.

With these growth figures, realme was successful in entering the top 5 brands in all key SEA markets (Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam).

Apart from key SEA markets, realme performed well in other Asia Pacific markets like Bangladesh, Australia, Taiwan, and Pakistan. In Pakistan and Australia, realme ranked fourth, while in Taiwan it managed to grab the fifth spot. realme officially entered Bangladesh in February 2020, and within one quarter it managed to gain a 6% market share with 1000% YoY growth (albeit from a small base).

Commenting on realme’s growth,Research Analyst,Abhilash Kumarsaid, “The right channel strategies, effective marketing and good value-for-money products across all price bands helped realme defy the market decline. The COVID-19 pandemic led consumers towards online sales platforms where realme has a strong presence. Innovative initiatives like “Zero-touch shipping” during the outbreak helped realme keep the offline momentum as well. In addition, realme has been proactive in launching new models online without any postponements. Coupled with social media campaigns and strong word-of-mouth marketing, the brand has positioned itself strongly, especially among younger age profile segments.”

realme致力于将最先进的technology within corresponding price bands to its consumers. In addition to creating and implementing a future-orientated 5G expansion strategy; it is one of the first brands to bring 5G devices to the mass market price bands. It also introduced innovations such as “125W UltraDart Charge” fast charging technology and is one of the first brands to launch smartphones with the Snapdragon 865 and Snapdragon 765G chipsets. Also, its recent expansion beyond smartphones into the IoT space with products like the smart band, smartwatch, TWS, and smart TVs will help the brand build a more holistic ecosystem, further strengthening its position in the market.

Analyst Contacts:

Abhilash Kumar

Tarun Pathak

Shobhit Srivastava

Varun Mishra

Follow Counterpoint Research
press(at)www.arena-ruc.com

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Insights Tag:SEA market

Electric Vehicles Gain Ground in Southeast Asia; Thailand Dominates Volumes

Thailand Leads Southeast Asia EV Market With 60% Share

Market summary

Podcast #57 – Will 5G Offset Macroeconomic Weakness in SEA Smartphone Market?

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