CHART: Philippines' smartphone shipments declined by 20% YoY in Q2 2023
In the second quarter of 2023, the smartphone market in the Philippines witnessed a substantial 20% year-over-year (YoY) downturn in shipments, per Counterpoint Research. This decline was caused by a confluence of factors, including pronounced softened consumer demand prompted by high consumption taxes, elevated production costs, and the weakening of
In the second quarter of 2023, the smartphone market in the Philippines witnessed a substantial 20% year-over-year (YoY) downturn in shipments, per Counterpoint Research.
This decline was caused by a confluence of factors, including pronounced softened consumer demand prompted by high consumption taxes, elevated production costs, and the weakening of the local currency.
Major brands, including realme and Samsung, experienced a downswing. While realme maintained its position as the top brand, it encountered a sizable 37% YoY decrease in shipments, leading to a reduced market share of 17.3%. Samsung too witnessed a 26% YoY drop in shipments during Q2 2023, as the Techloy chart below shows.
