Holographic recording in polycrystalline indium–oxide (InOx) and indium–tin–oxide (ITO) thin films, grown by dc magnetron sputtering, is demonstrated. This recording, performed at relatively low optical power levels in the ultraviolet (UV) wavelength range (325 nm), exhibits very large coupling strength and a slow but dynamic behavior. The observed phenomena are attributed to localized photorefractive effects and appear to be independent of the electrical characteristics of the films.