ERAA – Expects the mobile sales' positive trends to continue in 2024

ERAA – Expects the mobile sales' positive trends to continue in 2024 Erajaya Swasembada (ERAA) is optimistic about mobile phone sales this year with many mobile phone brands launching new products. These brands are releasing innovations with the latest technology in line with the development of 5G in Indonesia, which is expected to drive sales this year. ERAA also has 2,046 stores as of 9M23. This year, ERAA will maximize these outlets to be more productive and develop other businesses, such as Active Lifestyle, Food & Nourishment, and Beauty & Wellness. Note that, ERAA' revenue grew 22.55% yoy to IDR42.82 tn in 9M23. Yet, ERAA' net profit declined 27.26% yoy to IDR494.84 bn in 9M23, mainly due to higher interest expense yoy. (Source : Kontan)