A report from the International Data Corporation (IDC) reveals that Transsion dominated the smartphone market in the Philippines despite declining smartphone shipments in the market. This comes after Canalys released a report that reveals that Transsion reached the top 5 in global smartphone shipments.
Transsion – IDC Report
The IDC report reveals that the parent company of TECNO Mobile, Infinix, and itel, took a big lead over its competitors in the country with 38.3% in Q2 2023. This is followed by realme at 16.3%, Xiaomi at 11.5%, OPPO at 10.7%, and Samsung at 9.8%.
The report also detailed that TECNO Mobile grew 145% Quarter over Quarter (QoQ) and 237% Year over Year (YoY). This growth is attributed to multiple model launches, led by the Spark 10 series.
Despite the massive growth from Transsion and TECNO, smartphone shipments declined by 2.1% YoY with 4.2 million units in the quarter. However, this is said to be better than the double-digit contractions in the previous quarters of this year.