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.