According to the IDC Quarterly Mobile Phone Tracker, the Philippine smartphone market saw a 2.1% year-over-year contraction and 20.0% quarter-over-quarter growth, bringing in 4.2 million units in Q2 2023.
While the market is still down compared to the previous year, this decline is less severe than in the past eight quarters, during which the market experienced double-digit contractions.
Despite the slowdown of inflation in the Philippines, consumers remain cautious about spending due to higher prices of goods and economic uncertainty.
This has resulted in eight consecutive quarters of annual contraction, according to Angela Medez, Senior Market Analyst for Client Devices at IDC Philippines.
Transsion dominated the Philippine smartphone market in Q2 2023, accounting for 38% of total shipments and maintaining its position as the top vendor for two consecutive quarters.
Its sub-brand, Tecno, experienced impressive growth of 145% QoQ and 237% YoY, thanks to its expanded channel coverage and successful launches of multiple models, including the Spark 10 series.
These launches helped Tecno's ultra low-end products, priced below USD 100, to more than triple in growth both quarterly and annually.
realme is sitting second with over 16% shipments, followed by Xiaomi with 11.5% share. Oppo ranks third with 10.7% and Samsung at 9.8% of total shipments.
"With the market anticipated to remain subdued for the rest of the year, IDC expects more competition and growth in the lower-price segments as vendors focus on improving sales," Medez added.
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