By Business World
The Philippine smartphone market contracted 5.6% to 17.8 million units in 2021, with lockdowns dampening buying activity and global supply bottlenecks restricting supply, the International Data Corp. (IDC) said.
“The recurring lockdowns and global supply constraints in the second half of 2021 hampered the market’s growth with several vendors struggling to fulfill orders during the holiday season, resulting in low inventories across the channels,” the IDC, a market research company for the tech industry, said in a statement on Tuesday.
The IDC said sales in the fourth quarter of 2021 declined 23.3% year on year even as shipments increased 18.4% quarter on quarter.
“The gradual reopening of retail shops resulted in more consumers buying through physical stores,” it said.
The IDC expects “double-digit growth” in the smartphone market this year, recovering from a weak second half of 2021, and as supply constraints ease.
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