Apple iPad. AP FILE PHOTO
MANILA, Philippines–Sales of tablet computers in the Philippines almost doubled in the first quarter, as brands flooded the market with new models at lower price points, Singapore-based research company GfK said recently.
GfK said tech savvy Filipinos bought 270,000 tablet computers during the period, up 95 percent.
The units were valued at a total of $65.8 million, or a gain of 34 percent.
GfK said a major growth driver of the buoyant media tablet sector was the wide array of product brands and models that are available to consumers.
This year, 22 new local and international players jumped onto the bandwagon to introduce a total of 150 models into the market, offering media tablets for as low as $42 to as high as $1,012, it said.
“Competition in the media tablet market got even more exciting with the entry of relatively big global names such as Sony, LG, Lenovo, Skyworth and Cloudfone,“ said Benny Villanueva, Managing Director for GfK in the Philippines.
“While major international brands have consistently played in the higher price brackets, local and Chinese brands have successfully developed the low price segment which brought down the average cost and made the device even more affordable,” he added.
GfK reported the average price of media tablets dropping by around 31 percent from last year’s $356 to $246 for the first quarter of 2014.
In spite of the lower prices, total market value for media tablets still managed to rise by 35 percent attributed to the strong sales volume of the product.
GfK said Wi-Fi-only models represent the bestselling segment in the country as they are more affordable, averaging at around $42.
Its popularity is also attributed to the fact that the majority of commercial establishments are now providing free Wi-Fi connectivity to their customers, thereby making those that are equipped with the more costly 3G feature less of a necessity.
“These days, it is common to see young children using media tablets as a form of entertainment-on-the-go, proving that the product is now spanning a wider market to reach those even below 10 years old,” said Villanueva.
“With its broad ranging target market, we are anticipating the media tablet business in the Philippines to continually enjoy double digit growth for the next 3 years,” he added.