The Philippines is now the fastest-growing smartphone market in the Southeast Asian region, and it is pretty obvious that the local smartphone market continues to strengthen its progress with the advent of new devices that cater to what the consumers need for their first mobile phone while some markets in different parts of the world are showing signs of saturation. But what makes the smartphone market in the Philippines progressive?
Well, based on data from the International Data Corporation, the robust growth of the local market is because of three essential factors, namely: low smartphone penetration rate, active local brand presence and healthy consumer spending. Well, it seems that I can understand two of these factors, and I can tell you how these contribute to the ongoing progress of the Philippine smartphone market.
Local brands continue to dominate the smartphone market through their own range of affordable smartphone options, meaning that Filipino consumers are now careful of choosing their own smartphones that cater not only to their own needs, but also to their budget as well. And while homegrown brands continue to catapult their own progress in the market, global brands like Samsung and Asus are aggressively starting to enter the budget-conscious space while Chinese brands such as Oppo and Huawei continue to expand their own coverage.
With many international brands starting to offer their own affordable options, the International Data Corporation encourages local brands in the Philippines to stay competitive by offering better specs, innovative features and improved after sales service with their products. The IDC also advises telecommunication companies that they should keep an eye for network congestion and keep the price of mobile internet in check considering that our country has one of the most expensive rates in Asia.
For more details about the continuing progress of the Philippine smartphone market, you should read IDC's press release here.
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