MANILA, 22 February 2024 – According to the International Data Corporation’s (IDC) Quarterly Mobile Phone Tracker, the Philippines smartphone market registered 3.8% year-on-year (YoY) growth to 16.9 million units in 2023.
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 (Tecno started to move upwards with the introduction of its Phantom series in 2023, the company’s first smartphone at a US$500+ price point). 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 Philippines Smartphone Market, Top 5 Company Market Share and YoY Growth, 2023 (shipments in millions) Vendor 2023 Market Share 2022 Market Share YOY Growth 1. Transsion 34.2% 17.9% 98.3% 2. realme 15.9% 22.8% -27.6% 3. OPPO 12.2% 14.3% -11.4% 4. vivo 11.3% 10.5% 11.7% 5. Xiaomi 9.8% 11.4% -11.0% Others 16.7% 23.1% -25.1% Total 100.0% 100.0% 3.8% Source: IDC Quarterly Mobile Phone Tracker, 2023Q4 Note: Note: The “Company” represents the current parent company (or holding company) for all brands owned and operated as subsidiary. “The market made a strong comeback towards the end of 2023, driven by year-end holiday festivities and Transsion’s new product line-up, propelling the Average selling prices (ASP) dropped from US$200 in 4Q22 to US$169 in 4Q23, declining 15.1% YoY and 15.5% QoQ. Over 80% of the 5.6 million shipments in 4Q23 were in the “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 ended. To know more about the IDC Worldwide Quarterly Mobile Phone Tracker, please contact Angela at amedez@idc.com. For media queries, please contact Michael de la Cruz at mdelacruz@idc.com or Miguel Carreon mcarreon@idc.com. -Ends- About IDC Trackers IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC’s Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools. About IDC 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.
* All figures are rounded off
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