16 Nov 2022
Philippines’ Smartphone Market Declined for the Fifth Consecutive Quarter in 3Q22, Says IDC
MANILA, November 16, 2022 – According to International Data Corporation’s (IDC) Quarterly Mobile Phone Tracker, smartphone shipments in the Philippines declined by 8.0% Quarter-on-Quarter (QoQ) and 6.8% annually, bringing in 3.9 million units in 3Q22.
“The Philippine smartphone market quickly shrank in the third quarter as inflation accelerated, further aggravated by recent typhoons, hurting both consumers and vendors. Vendors took a more conservative approach by clearing inventories, maintaining prices of existing models, and sustaining momentum by bringing in more affordable smartphones,” said Angela Medez, Senior Market Analyst at IDC Philippines.
Note: The "Company" represents the current parent company (or holding company) for all brands owned and operated as subsidiary.
The ultra low-end (<US$100) price band grew 20.7% QoQ and 21.3% Year-on-Year (YoY) in 3Q22 due to aggressive pushes by vendors such as realme with its Narzo series, as well as Infinix with its Smart and Hot Play series, all aimed at targeting the entry level market as consumers sought cheaper options.
"The last quarter of the year is the peak sales period for smartphones, buoyed by holiday buying. But as inflation is expected to linger and peak towards the end of year, we anticipate an annual shipment decline towards the end of 2022 as vendors will lower targets for the upcoming holiday season by controlling inventories and increasing prices for newer models to counter the depreciating currency," added Medez.
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About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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