Smartphone sales rise 6% to 18 million units in 2024

MANILA, Philippines — Even as Filipinos struggled with a weaker peso in 2024, their yearly tradition of buying a new gadget continued, resulting in the purchase of almost 18 million new smartphones.

According to records from International Data Corp. (IDC), the Philippine smartphone market grew by six percent to nearly 18 million units last year, from 16.9 million in 2023.

IDC said while Filipinos were challenged by the double whammy of a weak peso and the series of typhoons, which forced them to spend most of their resources on basic necessities, they managed to procure new smartphones, thanks to efforts by manufacturers to make more entry-level models.

This enabled Chinese brands to extend their control in the Philippines, as China supplies the bulk of units catering to the low-income bracket.

IDC senior market analyst for client devices in the Philippines Angela Medez said more than half of the smartphones shipped to the country were priced below $100. In turn, the average unit cost fell to $179 in 2024, from $192 in 2023.

Transsion – maker of low-cost phones Infinix, Tecno and Itel – grabbed 37 percent of the market, while realme came a far second, capturing 13 percent.

Both Vivo and Xiaomi registered a market share of 11 percent each, tying for third, while OPPO rounded up the list with 10 percent.

All others, including industry rivals Apple and Samsung, partitioned the remainder at 17 percent, staying in a particular segment of the demand where volume may be low but prices are high.

Medez said Shenzhen-based developer Transsion is still the brand to beat in the Philippines, as it shipped over 4.8 million units, most of which cost under $100. In particular, Filipinos patronized Transsion’s entry-level Infinix Smart series and Tecno’s Spark Go series.

Per period, Medez said most Filipinos procured new smartphones in the fourth quarter, when the holiday pays kicked in. However, demand in the fourth quarter slipped by 12 percent annually, as vendors made model launches in the third quarter.

“While the last quarter slowed down with an annual decline of 11.8 percent due to early launches by vendors in the prior quarter, it still remained to be the strongest quarter for smartphones, with almost five million shipments driven by the holiday season,” Medez said.

In 2024, Filipinos saw inflation ease to 3.2 percent from six percent in 2023, but the peso took a beating from the dollar, reaching the 59:$1 level at some points.