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People using their mobile phones on July 17, 2016 in Surakarta, Indonesia.

Solo Imaji | Barcroft Media | Getty Images

Smartphone shipments in Southeast Asia continued a resurgence at the start of 2024, contrasting to a lull in other regions, as the promising market for mobile makers continues to attract more brands and investment. 

The top five markets in the region saw 7.26 million smartphone units shipped, marking a significant 20% increase from the same period last year, according to research from technology market analyst firm Canalys published Wednesday. 

The results continue a market rebound that began in the fourth quarter of 2023 when Southeast Asia phone shipments increased year-over-year for the first quarter in almost two years amid a broader post-pandemic industry recovery. 

According to Canalys analyst Le Xuan Chiew, stabilizing inflationary pressures buoyed by government support and momentum from year-end 2023 sales events in the region have seen consumer sentiment and expenditure rebound. 

“To capitalize on this market resurgence, smartphone manufacturers, which adopted conservative strategies in the last six months, are now deploying aggressive tactics to gain market dominance,” he said in the release, noting trends such as affordable 5G, AI integration, ecosystem development, and channel optimization.

In January, Samsung regained its top market share spot in the region thanks to the successful launch of its premium S24 series, which offered increased battery life and new AI capabilities. 

But, Chinese competitors are focusing more on the market, gaining ground and offering new phone models at competitive prices. Xiaomi, the second largest phone brand by shipments in January for that region, saw year-on-year growth of 128%, while Transsion, a relative newcomer to the market, saw growth of 190%. 

“The region’s increasing disposable income from an expanding middle-class and young population entering the workforce are strong reasons to expect increased investments,” said Cheiw. 

China iPhone sales plunge 24%, report finds

The strong smartphone shipments in Southeast Asia contrasted with China, the largest smartphone market globally, which saw smartphone sales fall 7% in the first six weeks of 2024 year-over-year, according to a Tuesday report from Counterpoint Research. 

While the decline in sales in China was magnified by unusually high sales at the start of 2023, other factors have kept the market down, senior analyst Ivan Lam said in the report.

“Consumer confidence will need to rise to stabilize the market, but it is a tough call right now with everything that is happening, especially in the real estate sector,” he said. 

One casualty has been Apple, whose smartphone shipments in China declined 24% in the first six weeks of the year, according to the research. This decline resulted, in part, from the revival of local competitor Huawei, but also abnormally high shipments by Apple at the start of 2023 that resulted from earlier production delays. 

However, as growth in smartphone markets like China and the U.S. slow, brands that sell premium phones like Apple and Huawei are increasingly looking to emerging markets like Southeast Asia, which are poised for growth.

According to data from Canalys, Southeast Asia’s phone market is forecasted to grow 7% year-over-year in 2024, a much faster rate than that of the rest of the world, which is at 3%. Meanwhile, China is predicted to grow by 1%, and North America’s market is predicted to stay flat. 

According to reporting from Bloomberg, Apple’s first retail location in Malaysia is already in the works. Meanwhile, Huawei has been strengthening ties with Southeast Asian partners such as the Indonesian telecommunications company Telkomsel. 

In the Canalys report, Indonesia remained the largest Southeast Asian smartphone market, making up 38% of shipments in January. The second largest market, the Philippines, showed the most robust growth with shipments up 77% in January compared to last year.

The next largest markets were Thailand, Vietnam, and Malaysia, in that order. Vietnam was the only country to experience a year-on-year shipment decline, dropping 2%.

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Perplexity launches AI-powered web browser for select group of subscribers

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Perplexity launches AI-powered web browser for select group of subscribers

Dado Ruvic | Reuters

Perplexity AI on Wednesday launched a new artificial intelligence-powered web browser called Comet in the startup’s latest effort to compete in the consumer internet market against companies like Google and Microsoft.

Comet will allow users to connect with enterprise applications like Slack and ask complex questions via voice and text, according to a brief demo video Perplexity released on Wednesday.

The browser is available to Perplexity Max subscribers, and the company said invite-only access will roll out to a waitlist over the summer. Perplexity Max costs users $200 per month.

“We built Comet to let the internet do what it has been begging to do: to amplify our intelligence,” Perplexity wrote in a blog post on Wednesday.

Perplexity is best known for its AI-powered search engine that gives users simple answers to questions and links out to the original source material on the web. After the company was accused of plagiarizing content from media outlets, it launched a revenue-sharing model with publishers last year.

In May, Perplexity was in late-stage talks to raise $500 million at a $14 billion valuation, a source familiar confirmed to CNBC. The startup was also approached by Meta earlier this year about a potential acquisition, but the companies did not finalize a deal.

“We will continue to launch new features and functionality for Comet, improve experiences based on your feedback, and focus relentlessly–as we always have–on building accurate and trustworthy AI that fuels human curiosity,” Perplexity said Wednesday.

WATCH: Perplexity CEO on AI race: The market of providing answers to questions will become a commodity

Perplexity CEO on AI race: The market of providing answers to questions will become a commodity

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Retailers log $7.9 billion in online sales in first 24 hours of Prime Day

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Retailers log .9 billion in online sales in first 24 hours of Prime Day

A worker sorts packages on Amazon Prime Day in New York on July 8, 2025.

Klaus Galiano | Bloomberg | Getty Images

U.S. online sales jumped 9.9% year over year to $7.9 billion on Tuesday, the kickoff of Amazon‘s Prime Day megasale, according to Adobe Analytics.

At that level, it marks the “single biggest e-commerce day so far this year,” Adobe said. It also eclipsed total online spending during Thanksgiving last year, when sales on the holiday reached $6.1 billion.

Amazon’s Prime Day bargain blitz began on Tuesday and lasts through Friday. The event, first launched in 2015 as a way to hook new Prime members, has pushed other retailers to launch counterprogramming.

Walmart‘s six-day deals event also started Tuesday, while Target Circle Week kicked off on Sunday and Best Buy launched a Black Friday in July promotion that began Monday.

Home and outdoor goods showed signs of strong demand during the first day of Amazon’s discount event, said Kashif Zafar, CEO of Xnurta, an advertising platform that serves more than 20,000 online businesses.

Read more CNBC Amazon coverage

Other historically well-performing categories such as beauty and household essentials saw softer demand early on, but could see demand pick up as Prime Day continues, he added.

“Early Prime Day numbers might look soft compared to last year’s surge, but it’s too early to call the event a miss,” Zafar said in an email. “With four days instead of two, we’re seeing a different rhythm, consumers are spreading out their purchases.”

Adobe expects online sales to reach $23.8 billion across all retailers during the 96-hour event, a level that’s “equivalent to two Black Fridays.”

U.S. online shoppers spent $14.2 billion during the 48-hour Prime Day event last year, according to Adobe.

This year’s Prime Day is landing at an uncertain time for retailers and consumers as they grapple with the fallout of President Donald Trump‘s unpredictable tariff policies.

U.S. consumer confidence worsened in June after improving in May as Americans remained concerned about the tariffs’ effect on the economy and prices, according to the Conference Board.

Amazon CEO Andy Jassy said last month the company hasn’t seen prices “appreciably go up” on its site as a result of tariffs.

Some third-party sellers previously told CNBC they were considering raising or had already raised the price of some of their products manufactured in China as the cost of tariffs became burdensome.

Don’t miss these insights from CNBC PRO

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Photos show Altman, Iger and Cook arrive at ‘summer camp for billionaires’ in Sun Valley

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Photos show Altman, Iger and Cook arrive at 'summer camp for billionaires' in Sun Valley

Sun Valley: Tech CEOs convene as leaders discuss the impact of tariffs, future plans

Top executives from tech, media and finance gathered in Sun Valley, Idaho, for Allen & Co.’s annual conference this week, an event that is often referred to as “summer camp for billionaires.”

Apple CEO Tim Cook, Walmart CEO Doug McMillon, Disney CEO Bob Iger and OpenAI CEO Sam Altman were all pictured entering the lodge.

Wednesday’s agenda includes interviews with Amazon CEO Andy Jassy, Treasury Secretary Scott Bessent and IAC Chairman Barry Diller, sources told CNBC’s Julia Boorstin.

When he arrived on Tuesday, Altman said he is not concerned about the artificial intelligence talent war and that he would talk to Meta CEO Mark Zuckerberg this week.

Scroll down to see the tech and media moguls arriving at the exclusive event.

Apple CEO Tim Cook

Tim Cook arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David Grogan | CNBC

Comcast CEO Brian Roberts and Disney CEO Bob Iger

Brian Roberts, CEO of Comcast, and Bob Iger (R), CEO of Walt Disney Co., attend the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

TV host Gayle King

Gayle King attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

OpenAI CEO Sam Altman

Sam Altman, CEO of OpenAI, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

GM CEO Mary Barra

Mary Barra, CEO of General Motors, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Spanx founder Sara Blakely

Sara Blakely, founder of Spanx, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Walmart CEO Doug McMillon

Doug McMillon, CEO of Walmart, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Entertainment executive Casey Wasserman

Casey Wasserman, CEO of Wasserman Media Group, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Boston Red Sox and Liverpool FC owner John Henry

John Henry attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

OpenAI Chair Bret Taylor

Bret Taylor, chairman of the board of directors of OpenAI, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Warner Bros. Discovery CEO David Zaslav

David Zaslav, CEO of Warner Bros. Discovery, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Home Depot co-founder Ken Langone

Ken Langone attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

Billionaire investor Stanley Druckenmiller

Stanley Druckenmiller attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.

David A. Grogan | CNBC

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