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Home Consumer products and Retail Consumer Electronics Used Smartphone Industry in Indonesia grew at a CAGR of ~8% to...

Used Smartphone Industry in Indonesia grew at a CAGR of ~8% to USD 445Mn. in 2021 and is expected to be valued at ~USD 659Mn. by 2026 – Ken Research

1. New Smartphone Market has been growing at a CAGR of ~22% from 2016 to 2021; Samsung and Oppo dominate the smartphone market in Indonesia

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The new smartphone market has grown at a CAGR of 21.7% from 2016-2021. The year on year growth rate has been as high as 30-40% in the initial years from 2016-2018. Post 2018, the growth rate slowed down to around 10-12% each year. The average price of new smartphones have been increasing at a CAGR of ~2.4% from 2016-2021, resulting in an increased CAGR for the new smartphone market size in terms of transaction value as compared to the market size in terms of sales volume from 2016-2021.As of 2021, only 8.9% of the population prefer buying iOS mobile operating system. Majority of the population prefer Android phones.

2. Used Smartphone Market grew at a CAGR of ~8% from 2016-2021, with a dip in 2020 as all the offline stores were shut due to COVID

Indonesia Used Smartphone MarketIn the pre-COVID period from 2016-2019, the industry grew ~8%. During COVID in 2020, the industry witnessed a drop in the growth as people were quarantined at home and the offline stores were shut. The sales of used smartphones during this period were primarily through online platforms. Post COVID, the situation began to normalize, the offline stores opened up and hence, the sale of used smartphones increased. The average prices of used smartphones have increased around 3% from 2016 to 2021.

Increase in the average prices of used smartphones is positively correlated with the inflation rate for the products in this sector. People prefer buying used smartphones, especially iPhone, because of the high prices of these smartphones. People who prefer replacing their handsets frequently and are brand conscious prefer buying second hand phones, as they are cheaper and affordable than the new smartphones. The increasing number of emerging online marketplaces increases the ease of convenience of getting a used smartphone at the doorstep from a certified seller and trusted marketplace. Offline retail stores have also adopted an O2O model, which means they provide their products both offline and online.

3. Used Smartphone Market is expected to grow at a CAGR of ~9% from 2022F-2026F; the subscription plan of iPhone will pose a threat to this industry in the future

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The used smartphone market is expected to grow at a CAGR of ~9% from 2022F-2026F. Post COVID, an increase in the number of transactions through online platforms have been witnessed. The ease of convenience of getting a used smartphone at the doorstep from a certified seller and trusted marketplace, has resulted an increase in the share of online platforms in the market size of used smartphones industry in Indonesia. People will find it difficult to afford new smartphones in the future and OEM’s like iPhone are expected to start a subscription plan for its users from late 2022. This plan is not similar to buying a smartphone at EMI.

The customer would be renting the phone for a certain period of time and are supposed to return the phone after the subscription ends. The strategy behind this is that Apple wants that more and more people enter the Apple ecosystem. This strategy of Apple would pose a threat to the Used Smartphone industry as the brand conscious population would buy this subscription plan and use a new smartphone for a certain period of time rather than buying a second hand device.

For more insights on the market intelligence, refer to the link below:-

Indonesia Used Smartphone Market

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