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Indonesia to overtake Brazil and Mexico as 4th largest smartphone market in 2020

By Maria Santos
1 min read
Indonesia to overtake Brazil and Mexico as 4th largest smartphone market in 2020
Indonesia to overtake Brazil and Mexico as 4th largest smartphone market in 2020
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Global prospects for wearable electronics continue to be strong with retail value sales projected to grow by 138% to become a US$45 billion dollar industry in 2021, remaining the worlds second best-selling product behind smartphone

Euromonitor International’s new data released Tuesday on the global consumer electronics industry also said new products like smart wearables and wireless speakers and innovations like Ultra HD and convertible laptops resonate with the shift in consumer preferences.

These products command higher retail selling prices, helping boost profit margins of manufacturers and retailers, says Head of Consumer Electronics at Euromonitor International, Wee Teck Loo.

While wearable electronics demand is growing, Emerging markets like India and Indonesia provide plenty of untapped opportunity for smartphones due to the huge pool of feature phone upgrades.

Indonesia is projected to overtake Brazil and Mexico as the fourth largest smartphone market reaching almost $1 billion dollar sales in 2020, adds Loo.

The top-10 smartphone markets in 2021 are projected to be: 1. China 2. India 3. US 4. Indonesia 5. Brazil 6. Russia 7. Mexico 8. Japan 9. Philippines 10. United Kingdom

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