Photo by Joel Muniz on Unsplash
PH smartphone market recovers in 2023
16.9 million unit shipments recorded last year
The Philippines’ smartphone market has finally recovered as it registered a 3.8% year-on-year growth in 2023 after two years of decline.
Based on International Data Corporation’s Quarterly Mobile Phone Tracker, an uptick in shipments totalling 16.9 million units was reported for 2023.
"The market made a strong comeback towards the end of 2023, driven by year-end holiday festivities," said Angela Medez, Client Devices Senior Market Analyst at IDC Philippines.
According to Medez, this propelled the <$100 price segment to more than double both quarterly and annually.
The IDC report showed that average selling prices (ASP) dropped from $200 in the 4th Quarter of 2022 to $169 during the same period of 2023, declining 15.1% year-on-year and 15.5% quarter-on-quarter.
Over 80% of the 5.6 million shipments in the 4th Quarter of 2023 were in the <US$200 price band.
"IDC has raised forecast for 2024 given the high performance in 4Q23 and optimistic economic outlook as inflation continues to decline and private spending grows,” Medez explained.
In terms of ranking, Transsion took the top spot, growing 98.3% annually and accounting for over one-third of total shipments in 2023 as the company reached a new high with all three sub-brands positioned in the ultra low-end segment.
On the other hand, other vendors slowed with realme registering the biggest annual decline of 27.6%, dropping to the second spot as vendors struggled to compete in the <$200 segment.
