Unlocking Insights 5 Key Takeaways on PH Smartphone Market Grows in 2024 - IDC

Unlocking Insights 5 Key Takeaways on PH Smartphone Market Grows in 2024 - IDC

The Philippines' smartphone market has experienced a significant year-over-year (YoY) growth of 6.1% in 2024, reaching nearly 18 million units, according to the latest report from International Data Corporation (IDC). This remarkable increase can be attributed to steady economic growth, the availability of affordable smartphones, and the resilience of the market despite challenges like a weakening peso and weather disruptions.

Insight #1 Affordable Smartphones Fuel Growth

Over 50% of smartphone shipments in 2024 were priced under $100 (P5,790), with Transsion's Infinix, Tecno, and Itel brands leading the segment, selling over 4.8 million units. This trend has led to a decrease in the average selling price (ASP) from $192 (P11,120) in 2023 to $179 (P10,366) in 2024.

Insight #2 Thailand's Market Rebound

Thailand's smartphone market rebounded strongly in 2024, growing 17.1% YoY to 16.9 million units. The growth was driven by entry-level models, financing programs, and aggressive vendor strategies. Shipments surged 27% YoY in the fourth quarter (4Q) of 2024 to 4.7 million units, fueled by mass-market, budget-friendly smartphones.

Insight #3 Ultra-Low-End Models Drive Indonesia's Growth

Indonesia's smartphone market saw a 15.5% YoY growth in 2024, reaching nearly 40 million units. The recovery was fueled by ultra-low-end models priced under $100 and affordable 5G devices. In 4Q24, shipments rose 9.6% YoY, though quarter-over-quarter growth was flat at -0.2%, as economic concerns slowed demand.

Insight #4 5G Adoption Gains Momentum

5G adoption has increased to 45.6% in Thailand and 25.8% in Indonesia, supported by lower prices and wider availability of budget-friendly 5G models. Vendors are expected to capitalize on growth opportunities despite economic and political uncertainty.

Insight #5 Consumers Seek Value-For-Money Options

The demand for affordable smartphones has never been more pronounced, with consumers seeking value-for-money options that fit their budgets. This trend is expected to continue in the coming years, driving growth in the mid-range segment ($200-$600). As vendors look to capitalize on this trend, they must prioritize affordability and value without compromising on quality.

In conclusion, the PH smartphone market has demonstrated remarkable resilience in 2024, driven by affordable smartphones, steady economic growth, and rebounding demand. As we move forward into 2025, it is essential for industry experts and social workers to stay abreast of these trends and insights to better understand the needs of their target audience.

Key Takeaways

The PH smartphone market grew 6.1% YoY in 2024, reaching nearly 18 million units.
Affordable smartphones priced under $100 drove growth, with Transsion leading the segment.
Thailand's smartphone market rebounded strongly, growing 17.1% YoY to 16.9 million units.
Indonesia's smartphone market saw a 15.5% YoY growth in 2024, reaching nearly 40 million units.
5G adoption increased to 45.6% in Thailand and 25.8% in Indonesia.

Stay tuned for more insights on the PH smartphone market!

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.