Retail in Asia

In Tech

Phone retailers in Indonesia defy gloomy outlook

While consumers are becoming more concerned about their financial circumstances and spending outlook, phone retailers in Indonesia are still optimistic that their sales will improve in the second half of this year.

Hasan Aula, the CEO of phone retailer Erajaya Swasembada, said that he was optimistic that sales of gadgets would still grow as the decline in sales of certain phone products would usually be offset by rising sales in lower-price segments.

Erajaya, which is listed on the Indonesia Stock Exchange (IDX) as ERAA, saw its net revenue grow by 28.97 percent to IDR8.68 trillion (USD626.04 million) in the first six months of this year from IDR6.73 trillion in the same period last year.