Thailand’s smartphone market holds promise despite economic strain

In these difficult financial times, Thailand’s smartphone market still carries incredible potential for device makers, particularly in high-end models, despite reduced support of handset subsidies by mobile operators, according to Oppo, a leading Chinese smartphone maker. With a market value exceeding 100 billion baht, Thailand’s smartphone market is regarded as a gem within Southeast Asia.

The Senior Executive Vice-President at Thai Oppo Co, Chanon Jirayukul, noted that Thailand continually attracts severe competition due to its lucrative smartphone market within the Southeast Asian region. Although the economy is strained, the country still has above-average mobile phone selling prices, driven by consumers’ strong financial power towards flagship models. Compared to the entry-price smartphones that have been battered by falling sales, models in the premium range have been least affected. Chanon said…

“You can see that the market has new players coming in all the time, and they come and go and even re-enter the market. All competition brings benefit to consumers.”

Thus, while unit sales of smartphones may decline, the overall market value remains extremely promising, he stated.

Chanon suggested that Thailand’s total smartphone market is unlikely to grow significantly this year due to the challenging economic conditions. Simultaneously, mobile operators continue to lower smartphone price subsidies as they restricted their marketing budgets this year, reported Bangkok Post.

Over the past years, Oppo’s market share in the local high-end segment has seen a significant uptick. This year, the introduction of the Oppo Find N2 Flip smartphone model further solidified its presence and was widely well-received. Chanon underscored the company’s goal to elevate the market share of its flagship models from a single to a double-digit figure.

For Oppo, Thailand is the premier market outside China. Having arrived in Thailand 15 years ago, the mobile phone manufacturer has steadily carved out a reputation associated with its brand that signifies premium quality and innovation. Its customer service centres spread across various shopping malls have helped it garner acceptance. In the first quarter, the company secured the second-highest market share in the overall smartphone market, according to Chanon.

Most recently, Oppo has unveiled the Reno10 Series 5G smartphone model to reinforce its market share. This medium-priced model features a “telephoto portrait camera” capable of producing professional-grade portrait focal lengths and extremely clear portrait images. Chanon said…

“We will continue our journey to move beyond smartphones to a tech company, and increase revenue in Internet of Things devices like smartwatches and tablets.”

However, in the first quarter, compared to a global decline of 14.6%, Thailand’s smartphone market sales shrank by 20% year on year. This drop mainly originated from the low-end smartphone segment, reported IDC, a global IT research firm.