Publication date: 21 Feb 2024
IDC: Philippine Smartphone Market Recovers in 2023 After Two Years of Decline
Contact
For more information, contact:- Angela Jenny V. Medez Email: amedez@idc.com
- Miguel Carreon Email: mcarreon@idc.com
- Michael De La Cruz Email: mdelacruz@idc.com
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 <US$200 segment.
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 <US$100 price segment to more than double both quarterly and annually,” says Angela Medez, Client Devices Senior Market Analyst at IDC Philippines.
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 <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 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.
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