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 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.
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