Thailand’s smartphone market poised for revival
As the world starts to emerge from the pandemic, Thailand‘s smartphone market is expected to see a resurgence in the second half of 2023. Despite a decrease in smartphone sales last year, the premium smartphone segment remains strong and is less affected by economic woes.
According to Wansiri Fitschen, a senior category manager at Thai Samsung Electronics, pre-orders for the new Galaxy S23 flagship smartphone have exceeded expectations, reflecting the strong demand for high-end smartphones, reported Bangkok Post.
Industry experts predict that bundled packages with installment payments extending up to 60 months will help improve purchasing, and the expected rebound in tourism and the upcoming general election could further support the recovery of the smartphone market. Fitschen said…
“We see users have a one-year replacement in the premium smartphone sector thanks to a trade-in programme, faster than in the past when users changed new phones every two years.”
Sitthichoke Nopchinabutr, head of mobile business at Thai Samsung Electronics, added…
“The smartphone market last year contracted by double digits in terms of units but the total value continued growth, driven by the high-end smartphone segment and an uptick in prices, caused by supply shortages and a weaker baht.”
The Thailand Mobile Expo 2023, held at the Queen Sirikit National Convention Center, is showcasing the latest smartphones from global brands such as Samsung and OnePlus.
The event runs until Sunday, and smartphone sales are expected to reach 1-1.2 billion baht in the best-case scenario.
The Expo also features the Bangkok EV Expo 2023, which showcases electric vehicles and related businesses, as well as the Tech Investment Show which brings together venture capital funds and startups for pitching opportunities.
As Thailand’s smartphone market looks set for a rebound, it’s worth noting that little to no growth is expected for the first half of the year.
However, the pent-up demand in the second half and the resurgence of low-range smartphones could improve the industry’s ecosystem as a whole, according to Glen Cardoza, a senior analyst at market research firm Counterpoint. With the high-end demand driving the market, the industry could see a bright future ahead.
