Two comprehensive studies highlight Transsion’s remarkable performance as it emerged as the leader in the Philippine market growth last year.
According to the latest Canalys report, Transsion spearheaded the revival of the smartphone market in Q4, strategically increasing its market share through the successful introduction of volume drivers. Notably, the company boosted shipments of its SMART and SPARK series while leveraging social media platforms to effectively promote the Phantom V Flip model.
In the price-sensitive Philippine market, which experienced an impressive 32% year-on-year growth, Transsion secured the top spot among vendors with its robust low-end offerings, capturing 38% in 2023. Canalys analyst Le Xuan Chiew emphasized that devices priced below US$299 continued to dominate sales in Southeast Asia, constituting 82% of total volume in Q4 2023.
In December, Transsion achieved another milestone by leading smartphone shipments to the region for the first time. However, challenges emerged in the form of heightened price competition and market saturation, impacting vendors’ pricing and product positioning within this segment.
Simultaneously, the International Data Corporation (IDC) reported that Transsion claimed the highest market share growth, soaring from 17.9% in 2022 to an impressive 34.2% in 2023. The brand’s dominance extended to accounting for over one-third of total shipments in 2023, with all three sub-brands positioned in the ultra-low-end segment.
TECNO, in particular, ventured into higher price points with the introduction of its Phantom series in 2023, marking the company’s entry into the US$500+(~₱27,988) price category.
The market’s resurgence towards the end of 2023, driven by year-end holiday festivities and Transsion’s innovative product line-up, notably propelled the <US$100 price segment to more than double both quarterly and annually, according to Angela Medez, Senior Market Analyst at IDC Philippines. Encouraged by the strong performance in 4Q23 and an optimistic economic outlook marked by declining inflation and growing private spending, IDC raised its forecast for 2024.
