The Philippines’ smartphone shipments declined by 8.6 percent to 16.3 million units in 2022 from 17.38 million units the previous year due to high inflation, according to International Data Corp. (IDC).
“Both consumer and vendor confidence has been seriously dampened as inflation progressively soared throughout 2022 ending the year at a 14-year high,” Angela Medez, senior market analyst at IDC Philippines, said in a statement.
Data from the IDC quarterly mobile phone tracker showed while the last quarter of 2022 posted 6.3 percent growth quarter-over-quarter, it registered a 16.3 percent decline compared to the same period in 2021.
The report said several vendors focused on clearing out inventories rather than bringing in new shipments during the holiday season due to unfavorable market conditions.
As of the end of 2022, the country’s top five smartphone brands based on market share are realme, Transsion, Oppo, Samsung and Xiaomi, according to IDC.
Realme, with a 22.8 percent market share, maintained the top spot in 2022 by launching several new smartphones in the narzo series to cater to the price-conscious customer, while Transsion came in second and was the only company in the Top 5 rankings that registered growth in market share, from 13.8 percent in 2021 to 17.9 percent in 2022.
Both of Transsion’s brands, Infinix and Tecno, upscaled their products by bringing in more models in the higher price range of $100+, such as Infinix’s Note series and Tecno’s Pova and Camon series, while it continued to cater to the entry-level segment.
“Though inventory levels started to normalize towards the end of 2022, IDC is lowering its forecast for 2023 as vendors will remain cautious in their shipments amid the looming economic uncertainties and accelerating inflation,” Medez said.
