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Domestic smartphone market seen to grow 8% in 2022
The latest forecasts show that Indonesia's smartphone market is poised to grow this year toward third-place global dominance by 2025.
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People play interactive games on their smartphones on Dec. 15, 2021 in a residential area in Malabon, suburban Manila. (AFP/Jam Sta Rosa)
T
he domestic smartphone market is projected to grow 8 percent year-on-year (yoy) this year as supplies improve, according to market research company International Data Corporation (IDC).
In its latest report, the IDC forecast that 2022 smartphone market in Indonesia would reach 44 million units after posting 11 percent growth last year to 40.9 million units, on expectations for gradual improvements in the domestic supply.
The IDC expected local smartphone vendors to start stocking up before the Ramadan fasting month, while preparing for planned changes to the local content requirement (TKDN) and tax increases in April 2022.
“Vendors are largely ready for the increase in the local content requirement, but there are uncertainties regarding their higher-end portfolios, which may be subject to a stricter set of rules,” said IDC Indonesia associate market analyst Vanessa Aurelia.
“Channel players may also stock up before the tax rate is increased from the current 10 to 11 percent,” she added.
Vanessa said the recent merger between Indosat Ooredoo and Hutchison 3 was expected to accelerate the growth of 4G and 5G networks in Indonesia.
Read also: Indosat Ooredoo and Cisco ink deal to bring 5G to Indonesia
