Market grew 34.5 percent during first quarter of 2013, making it the most successful in the Asia/Pacific.
IDC has reported that the Philippines has achieved substantial growth in its printer market over the last year, with the market growing by 34.5 percent year-over-year (YoY) during the 1Q13 despite the overall market in the Asia/Pacific region contracting YoY for the sixth consecutive quarter, dropping 7.6 percent.
According to IDC’s Quarterly Harcopy Peripherals (HCP) Tracker, 233,400 units of single and multifunctional printers and copiers were shipped in 1Q13, compared to 174,000 units in the first quarter of 2012; with eight out of 10 of those being inkjet devices and laser and dot matrix devices representing the remaining 12.9 percent and seven percent. Furthermore, the total market revenue reached its highest ever value of $48.2 million (€36.1 million) during 1Q13.
Commenting on the market’s growth, Pamela Sumanga, Market Analyst at IDC, said: “Both consumer and commercial products (i.e. inkjet and laser printing devices) have demonstrated double-digit growth rates YoY and beat expectations due to the end-users’ receptiveness to vendors’ initiatives around PC bundling, price drops, and trade-in promotions to name a few.
“Dealers, on the other hand, were more open to take in fresh stocks from vendors due to prospects of better sales on the retail front and corporate side as IT investments are projected to pick up, given the confidence on the economy.”
The local printing market in the Philippines between 2011 and 2012 slowed due to the changes in product line-ups, vendors’ strategies and usage behaviour of end-users. However, following the market’s recent results, IDC now predicts the Philippine HCP market to grow by 5.3 percent in 2013 to reach approximately 802,000 units.