CHINESE device manufacturer Lenovo launched last week a smartphone targeting Filipino millennials. Local Lenovo executive Dino Romano said the firm sees millennials, those born between 1982 and 2000, warming up to their device called Vibe Shot because of its 16-megapixel camera and 5-inch screen. Romano said during the launch their device has “features that they [consumers] care about, at a price they wouldn’t expect.”
The device has a price tag of P17,999 ($394.21 at current exchange rate).
The launch came after the International Data Corp. said smartphones with screen sizes between 4.5 inches to 5.5 inches doubled last year “as Filipinos demanded for larger screens for social networking and content consumption.”
The total amount of smartphones amounting below $100 has quadrupled since 2013, according to IDC. “A shift in market dynamics in the Philippines happened in 2014, with global vendors flooding the market with price-competitive smart devices while local vendors further push the price limits of smart devices to be able to compete head-on with China-based and global vendors.” According to IDC, Filipinos have also appreciated being able to browse content from even bigger screens, hence phablets (5.6in. to 6.9in.) also grew 61 percent year-on-year. Still, Lenovo executive Vincent de la Cruz said they believe their new device “can outperform other cameras in the market.”
Lenovo maintained its third position in the worldwide tablet market with a 5.7-percent share and having shipped 2.5 million units during the second quarter.
“Longer life cycles, increased competition from other categories such as larger smartphones, combined with the fact that end users can install the latest operating systems on their older tablets has stifled the initial enthusiasm for these devices in the consumer market,” an IDC statement quoted one of its analysts Jitesh Ubrani as saying.
(With additional report by Rizal Raoul Reyes)