IDC Report: PH smartphone market shows robust recovery by end of 2023

Business.(Business File photo)

THE Philippines smartphone market saw a 3.8 percent year-on-year growth, reaching a total of 16.9 million units in 2023, according to the International Data Corp.’s (IDC) Quarterly Mobile Phone Tracker.

Transsion took the top spot, growing 98.3 percent 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 percent, dropping to the second spot as vendors struggled to compete in the <$200 segment.

After realme, OPPO landed the third spot, whose market share dropped to 12.2 percent from 14.3 percent in 2022. The growth of this smartphone brand declined by 11.4 percent.

Vivo, on the other hand, grew 11.7 percent. Its market share also grew to 11.3 percent from 10.5 percent in 2022. Xiaomi’s growth decreased by 11 percent. Its market share also declined to 9.8 percent from 11.4 percent.

“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 <$100 price segment to more than double both quarterly and annually,” said Angela Medez, client devices senior market analyst at IDC Philippines.

Average selling prices dropped to $169 in the fourth quarter of 2023 from $200 in the same period in 2022, declining 15.1 percent year-on-year and 15.5 percent quarter-on-quarter. Over 80 percent of the 5.6 million shipments in the fourth quarter of 2023 were in the <$200 price band.

“IDC has raised forecast for 2024 given the high performance in the fourth quarter of 2023 and optimistic economic outlook as inflation continues to decline and private spending grows,” Medez ended.

IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. / KOC


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