Comeback call: Thailand’s smartphone market dials up growth
Thailand’s smartphone market powered back to life last year after two years in the doldrums, defying a sluggish economy.
Global research giants IDC and Canalys both report an upward swing in sales: from IDC’s impressive 17.1% growth, with 16.9 million units shipped, to Canalys’s solid 7.1% increase, marking 16.4 million units sold.
IDC predicts this growth spurt will carry on into the first quarter of 2025, with research analyst Apirat Ratanavichit highlighting the stellar market rebound in 2024. He urged vendors to seize growth opportunities, despite economic and political clouds on the horizon.
Smartphone makers are sniffing out prospects from government boost schemes and slick financing plans that make these gizmos more wallet-friendly.
The numbers tell the story: IDC clocked a 14% uptick in the first half of 2024, skyrocketing to 20% in the latter half.
Entry-level phones, priced under US$200 (around 7,000 baht), surged to account for 56.9% of sales, nudging up from 54.8%. Meanwhile, premium handsets, over the US$1,000 mark (roughly 35,000 baht), slipped to 9% of the market, down from 12% in 2023.
It was a bumper year for ultra-low-end mobiles too, those under US$100 (around 3,500 baht), swelling from 11% to 14%.
Even the mid-to-high-end models, priced between US$400 and US$800 (14,000 to 28,000 baht), saw gains, moving from 9.5% to 12.8%. The market’s average selling price dipped by 7.5% to just US$336 (12,000 baht) in 2024.
The appetite for 5G is undeniable, with its share jumping to 45.6% from the previous year’s 43.2%, spurred on by lower price tags and an influx of cost-effective 5G Androids capturing consumer imaginations.
Oppo, Samsung, and Apple dominated the leaderboard with 19.4%, 19.2%, and 15.9% market shares, respectively, followed by Xiaomi at 14.7% and Vivo at 12.3%.
Apirat is bullish about the Thai smartphone market’s prospects this quarter, driven by the rollout of feature-packed, budget-friendly models and an arsenal of 5G bargains.
Promotions and finance deals sweeten the pot for high-end buyers too. The Easy E-Receipt programme promises to boost mid-to-high-range purchases above 10,000 baht, nurturing growth this quarter.
Illegal loan apps
However, Apirat kept mum on the drama surrounding pre-installed illegal loan apps on Oppo and Realme phones, saying it’s too soon to call the shots. Both brands have since removed the apps and pledged future devices will be app-free.
Canalys analyst Sheng Win Chow chimed in with a 7.1% market jump last year, showing Oppo and Apple tied with a 17% share in the fourth quarter, trailed by Vivo at 15%, Samsung at 14%, and Xiaomi at 13%, Bangkok Post reported.
Canalys also noted a broader regional revitalisation, with Southeast Asia’s smartphone market rebounding in 2024, hitting 96.7 million units shipped, an 11% year-on-year surge.
Oppo topped the leaderboard with an 18% regional share from 16.9 million units, followed closely by Samsung with 16.6 million and a 17% stake, while Transsion, Xiaomi, and Vivo rounded out the top five.
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