This was the sixth consecutive quarter of contraction brought on by macroeconomic headwinds, weak demand from both the consumer and commercial sectors, and a shift in IT budgets away from device purchases.
A recent report titled by research firm IDC has revealed that approximately 32% of organizations surveyed in the Asia-Pacific region have expressed their commitment to investing in generative AI technologies.
According to research firm IDC, a total of 52 units of digital label and packaging printer was shipped in the first quarter of 2023 for Asia-Pacific excluding Japan (APeJ), with a sequential growth of 15.6% and an annual growth of 23.8%.
IDC said the growth can be attributed to the shift of the commercial segment away from laser printers and toward ink tank printers, which have been proven more cost-effective for printing.
The paradigm shift has transformed employees into “branch offices of one,” as they operate from their homes or alternative locations outside the traditional office setting, according to the study.
According to research firm IDC, the Philippine smartphone market declined 16.7% quarter over quarter (QoQ) and 11.0% year over year (YoY), shipping 3.5 million units for the first quarter of 2023.
As employees return to the office around the world and as consumers continue to be cautious of their expenditure, the market continues to witness weakening demand.
IDC said consumers are prioritizing travel and entertainment over smartphone purchases and uncertainty still lingers, which is dampening consumer sentiment.
The decline in smartphone and PC shipments in 2022 took its toll on overall shipments for Wi-Fi-enabled products, causing them to fall for the first time ever in Wi-Fi's decades-long history.
