Unlike developed, and even emerging markets, the fact that the Philippines is a frontier market, means there are considerably lower device penetration rates, and, consequently, there is still potential for sustained device spending growth as incomes rise over the medium term based on a flow of first time buyers that will accompany upgrades by an increasingly affluent middle class.
Latest Updates & Industry Developments
Computer Sales: USD1.4bn in 2017 to USD1.4bn in 2021, a compound annual growth rate (CAGR) of 1.6% in US dollar terms. The PC use case is being cannibalised by smartphones, which has put the segment on a permanently lower trajectory, and will make it the underperforming segment.
AV Sales: USD1.3bn in 2017 to USD1.5bn in 2021, a CAGR of 4.7%. An expanding middle class will generate demand for flat-panel TV sets and audio devices to accompany smartphones, such as headphones and wireless speakers.