Publication date: 31 Aug 2023
Annual Decline Slows Down as Philippines’ Smartphone Shipments Drop by 2%in 2Q23, Says IDC
MANILA, PHILIPPINES, September 1, 2023 – According to the International Data Corporation (IDC) Quarterly Mobile Phone Tracker, the Philippine market's decline slowed to a 2.1% year over year (YoY) contraction and 20.0% quarter over quarter (QoQ) growth, bringing in 4.2 million units in 2Q23. Even though the market is down YoY, this is better than the double-digit contractions in the past two quarters and is also the least that the market has contracted in the past eight quarters.
“Though inflation in the Philippines is slowing down and on the mend, consumer appetite for spending remained cautious in the face of higher prices of goods and economic uncertainty, resulting in eight consecutive quarters of annual contraction,” says Angela Medez, Client Devices Senior Market Analyst at IDC Philippines.
Note: The "Company" represents the current parent company (or holding company) for all brands owned and operated as subsidiary.
Transsion took a sizeable lead, accounting for 38% of total shipments in 2Q23 and retaining the top spot for two consecutive quarters. Transsion’s sub-brand, Tecno, grew 145% QoQ and 237% YoY, driven by its increased channel coverage throughout the country and multiple model launches, led by its Spark 10 series, that propelled its ultra low-end (<US$100) to more than triple in growth both quarterly and annually.
“With the market anticipated to remain subdued for the rest of the year, IDC expects more competition and growth in the lower-price segments as vendors focus on improving sales,” Medez added.
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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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