More and more Filipinos are getting into smart and wearable devices as evidenced by the double-digit growth in the third quarter of 2022 (3Q22). The latest data from the International Data Corp. showed an increase of 15.5% quarter over quarter (QoQ) and 23.7% year over year (YoY).
The shipments of wearables which range from smartwatches to wristbands to ear wears reached 370,000 units.
Chinese brand Huawei took the top spot with its wristbands accounting for 66.0% of its overall wearable shipments.
“Some vendors have expressed confidence in the wearable market’s growth in the Philippines,” said Angela Medez, senior market analyst at IDC Philippines. “In fact, smartphone vendors have expanded their product portfolio to include wearables, in response to the growing demand for smart devices among Filipino consumers that seek a smart lifestyle,”
Wristband is the fastest-growing category bringing in 106,000 units in 3Q22, growing 80.0% QoQ and 46.5% YoY, driven by Huawei’s hot selling Band 7 accounting for more than half of total wristband shipments.
Although smartwatch shipments (inclusive of basic and advanced) declined 3.5% compared to the previous quarter, it has still more than doubled compared to last year. In contrast, the leading category earwear accounted for 46.8% of the overall wearables 3Q22 market share, slowed down 5.4% YoY.