15 Dec 2022
Philippines Wearable Market Poses Double Digit Growth in 3Q22, Says IDC
MANILA, December 15, 2022 – According to International Data Corporation’s (IDC) Worldwide Quarterly Wearable Device Tracker, the Philippines wearable market grew 15.5% quarter over quarter (QoQ) and 23.7% year over year (YoY) in 3Q22 as shipments reached 370,000 units.
Note: The "Company" represents the current parent company (or holding company) for all brands owned and operated as subsidiary.
Despite an economic slowdown, Huawei took the top spot with its wristbands accounting for 66.0% of its overall wearable shipments.
Wristband is the fastest-growing category bringing in 106,000 units in 3Q22, growing 80.0% QoQ and 46.5% YoY, driven by Huawei’s hot selling Band 7 accounting for more than half of total wristband shipments.
Although smartwatch shipments (inclusive of basic and advanced) declined 3.5% compared to the previous quarter, it has still more than doubled compared to last year. In contrast, the leading category earwear accounted for 46.8% of the overall wearables 3Q22 market share, slowed down 5.4% YoY.
“Some vendors have expressed confidence in the wearable market’s growth in the Philippines. In fact, smartphone vendors have expanded their product portfolio to include wearables , in response to the growing demand for smart devices among Filipino consumers that seek a smart lifestyle,” said Angela Medez, Senior Market Analyst at IDC Philippines.
To know more about the IDC Worldwide Quarterly Wearable Device Tracker, please contact Angela Medez at firstname.lastname@example.org. For media inquiries, please contact Fenny Tjandradinata at email@example.com or Jane Yap at firstname.lastname@example.org.
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.
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 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 @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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