Malaysian consumers bought over 8.5 million mobile handset last year an increase increase more than 10% in sales. Consumers contributed RM6.8 billion in total sales with mostly paying for smartphones and more so on screens larger than 5 inches.
According to Gfk, the agency tracked that 45% of units sold were of bigger phones as compared to 21% a year before. The findings reported that the biggest spike in sales were contributed by mid-range models costing between RM 900 to 1,050. Chinese smartphone brands were the key drivers to the spike in demand for mobile devices last year, which registered the highest number of new smartphone brands entering the marketplace.
In the 2016 GfK Shopper Monitor Electro consumer survey conducted across APAC, majority of Malaysian respondents indicated price and brand image as key deciding factors in purchasing smartphones. Motivated by Gfk believe the mid-range category of smartphones will continue to dominate the market this year. The marketplace will also remain competitive, as further sales surge for this popular device.
A separate study also shows that the product life cycles of smartphones have significantly reduced as newer models are being introduced at a faster pace. This implies brands now have a shorter time window to effectively market their smartphones. It becomes imperative for them to constantly understand and obtain insights on how their marketing mix efforts and investments impact sales of their products so as to optimise strategies swiftly to achieve maximum returns on their portfolio.