BCA Sekuritas
_Calista Muskitta_
📱 *What's new?*
• *Curved exterior*
• *USB-C charger port* aims to reduce electronic waste.
• *A16 Bionic Chip*
• *48 MP main camera* (iPhone 14: 12MP)
• Still same as iPhone 14: dynamic island
📱 *Companies benefiting the new release within our coverage*
Release in Indonesia: 1-2 months
• *ERAA*: iBox is currently the market leader for iPhone sales domestically. The company provided discounts and promotions for the older iPhone models to boost sales volume. We forecast 3Q23 volume growth from older models and 4Q23 ASP pick-up from iPhone entering Indonesia. *TP: IDR 600/share*
• *MAPI*:Digimap under MAPI provides similar products as to ERAA's iBox, with fewer discounts and promotions according to our ground check. Maintain BUY, *TP: IDR 2,500/share*
• *BELI*: New kid on the block. Still smaller market share than ERAA, but could rake in thicker margins via exclusive distribution agreement with Apple *TP: IDR 510/share*
Thank you!
(Disc. on)