IDC: Philippine smartphone market declines in 1Q23, Transsion overtakes realme as top smartphone vendor
The International Data Corporation (IDC) recently revealed that the Philippines smartphone market has declined recently.
PH smartphone market decline
In particular, it fell by 16.7 percent quarter on quarter (QoQ) and 11.0 percent year over year (YoY). During the first quarter of the year (1Q23) only 3.5 million units were shipped in the country.
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| IDC Philippines Top 5 Smartphone Companies 2023Q1 |
IDC said that market conditions remained difficult as core inflation continued to rise through March 2023.
The last time shipments hit below 3.5 million records was back in 1Q20 when the pandemic just started and the first lockdown was implemented, says Angela Medez, Client Devices Senior Market Analyst at IDC Philippines.
IDC's report also revealed the current top 5 smartphone vendors in the Philippines. Interestingly, Transsion is the new top player in the country. The company behind Infinix, TECNO, and itel ended realme's 2-year streak on top.
Though it seems that the market has finally bottomed out and is on its road to recovery with inflation finally slowing down, IDC anticipates shipments to remain flat in 2023 as vendors will remain cautious with inflation still above comfortable levels, Medez added.
TECNO is one of the major reasons behind Transsion's success in growth of TECNO. The sub-brand grew 37.7 percent YoY and 107.8 percent QoQ which contributed more than 50 percent of the company's total shipments.
TECNO's rise is attributable to its aggressive campaigns offering new models at different price points (with its Spark Go 2023 model leading its growth) as well as introducing its Phantom series, initiating the brand’s entry in the US$500+ band.
Here are the top 5 smartphone vendors in the Philippines (1Q23):
1. Transsion (Infinix, TECNO, itel) - 19.5 percent
2. realme - 18.7 percent
3. OPPO - 15.5 percent
4. vivo - 13.1 percent
5. Xiaomi - 11.9 percent
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