Publication date: 17 Feb 2023
The Philippines Smartphone Market Recorded its Biggest Annual Decline of 8.6% in 2022, Says IDC
MANILA, February 17, 2023 – According to the International Data Corporation’s (IDC) Quarterly Mobile Phone Tracker, the Philippines smartphone market declined 8.6% year over year (YoY), shipping 16.3 million units in 2022.
Though the last quarter in 2022 grew 6.3% quarter over quarter (QoQ), it registered a 16.3% decline compared to last year as several vendors focused on clearing out inventories rather than bringing in new shipments during the holiday season due to unfavorable market conditions.
“Both consumer and vendor confidence have been seriously dampened as inflation progressively soared throughout 2022 ending the year at a 14-year high,” says Angela Medez, 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.
Philippines Smartphone Market, Top 5 Company Shipments, Market Share, and YoY Growth, 2022 (shipments in millions)
2022 Market Share
2021 Market Share
Source: IDC Quarterly Mobile Phone Tracker, 4Q22
realme maintained the top spot in 2022 by launching several new smartphones in the narzo series to cater to the price-conscious customer, while Transsion was the only company in the Top 5 rankings that registered growth. Both of its Infinix and Tecno brands upscaled their products in bringing in more models in the higher price range of US$100+, such as Infinix’ Note series and Tecno’s Pova and Camon series, while itel continued to cater to the entry-level segment.
"Though inventory levels started to normalize towards the end of 2022, IDC is lowering its forecast for 2023 as vendors will remain cautious in their shipments amid the looming economic uncertainties and accelerating inflation," 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 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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