In November 2022, the International Data Corp. (IDC) reported a decline of 8% in smartphone shipments for the fifth straight quarter. Today, the market intelligence firm reported that the Philippine smartphone market slipped further to 8.6% year over year (YoY), shipping 16.3 million units in 2022 compared to 17.83 in 2021.
Like the PC market, smartphones’ pandemic boom is dipping as the government lifted restrictions on on-site work and in-person classes. With the workforce returning to their offices, the need for devices for remote work is no longer a priority.
“Both consumer and vendor confidence has been seriously dampened as inflation progressively soared throughout 2022 ending the year at a 14-year high,” said Angela Medez, senior market analyst at IDC Philippines.
PH smartphone market declines for four consecutive quarter — IDC
Smartphone shipments to decline 9.1% YoY in 2022 — IDC
Though the last quarter in 2022 grew 6.3% quarter over quarter (QoQ), it registered a 16.3% decline compared to last year as several vendors focused on clearing out inventories rather than bringing in new shipments during the holiday season due to unfavorable market conditions.
realme maintained the top spot in 2022 by launching several new smartphones in the narzo series to cater to the price-conscious customer. It shipped 3.72 million units down from 3.96 million the previous year.
Transsion was the only company in the Top 5 rankings that registered growth shipping 2.92 million units up from 2021’s 2.47 million units. Both its Infinix and Tecno brands upscaled their products by bringing in more models in the higher price range of $100+, such as Infinix Note series and Tecno’s Pova and Camon series. At the same time, itel continued to cater to the entry-level segment.
OPPO, Samsung, and Xiaomi rounded up the Top 5 in therms of shipments, market share, and YoY Growth, 2022, posting a combined shipment of 6.36 million units.
“Though inventory levels started to normalize toward 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 added.