The latest data from the International Data Corporation’s (IDC) Quarterly Mobile Phone Tracker reveals a 3.8 percent year-on-year (YoY) growth in the Philippines smartphone market, reaching a total of 16.9 million units in 2023.
Transsion has emerged as the smartphone market leader in the Philippines, experiencing 98.3 percent growth and capturing 34.2 percent share. China-based Transsion achieved this milestone by strategically positioning all three of its sub-brands in the ultra low-end segment in the Philippines smartphone market.
Notably, China-based Tecno made significant strides in the market with the introduction of its Phantom series, marking its entry into the US$500+ price range for the first time.
However, other smartphone vendors faced challenges in the Philippines, with Realme witnessing the largest annual decline of 27.6 percent, slipping to the second position. The intense competition in the sub-US$200 segment posed difficulties for vendors, contributing to Realme’s decline.
Other vendors collectively accounted for 16.7 percent of the market share, experiencing a 25.1 percent decline.
“The market demonstrated a strong resurgence towards the end of 2023, driven by year-end festivities and Transsion’s innovative product lineup. This surge propelled the sub-$100 price segment, witnessing more than double growth both quarterly and annually,” Angela Medez, Client Devices Senior Market Analyst at IDC Philippines, said.
The average selling prices (ASP) of smartphones declined from US$200 in the fourth quarter of 2022 to US$169 in the fourth quarter of 2023, marking a 15.1 percent YoY and 15.5 percent QoQ decrease. Over 80 percent of the 5.6 million shipments in the fourth quarter of 2023 fell within the sub-US$200 price band.
IDC has revised its forecast for 2024 upwards following the robust performance in the fourth quarter of 2023 and the positive economic outlook, characterized by declining inflation rates and growing private spending.
