Thailand’s smartphone market is going through a possible double-digit contraction this yron account of the financial downturn and a lower in client buying energy in Q2 and Q3, in line with M Imaginative and prescient Plc, an expo organiser, and cell phone distributors. Nonetheless, market prospects are predicted to enhance in This fall, owing to the introduction of recent flagship telephones.
Opas Cherdpunt, the CEO of M Imaginative and prescient, who’s organising the Thailand Cellular Expo 2023, attributed the market decline to weak financial circumstances accompanied by a scarcity of serious technological modifications, such because the adoption of versatile screens.
The four-day expo, which started yesterday, October 26, on the Queen Sirikit Nationwide Conference Middle, is anticipated to generate 1 billion baht in transactions as producers promote their new fashions and supply reductions on present ones to attain year-end gross sales targets, Opas mentioned.
“We see extra Chinese language manufacturers coming into the market such because the IQOO model underneath Vivo, whereas Oppo and Vivo tightened their price range prior to now few years however returned to take part within the occasion this yr.”
Alongside this, the cellular substitute cycle is reportedly extending, from one yr to over two years.
The downturn within the Thailand smartphone market is anticipated to increase by greater than 10% from roughly 16 million models, predicts Paradorn Ramaboot, enterprise growth supervisor at HMD World, the unique licensee for Nokia-branded smartphones and equipment. The typical sale worth has dropped from 10,000 baht final yr to eight,000 baht this yr, with customers now changing their telephones each two to 3 years, down from 1.5 years.
Thailand Smartphone Market
Regardless of the general decline, the native Thailand smartphone market stays massive, particularly the entry to the mid-priced phase, the place shoppers show much less model loyalty, mentioned Ramaboot.
“Producers on this phase spend much less on advertising and marketing, utilizing pricing and smartphone specs to draw patrons. This phase nonetheless has room for newcomers as robust Chinese language manufacturers shift to compete on the high-end stage.”
Weak buying energy is impacting client sentiment, notably for smartphones priced beneath 5,000 baht. Nonetheless, the Nokia C30 mannequin is reportedly nonetheless performing effectively. Trying to the long run mentioned Ramaboot.
“We are going to choose fashions utilizing a cautious funding mannequin in 2024.”
New flagship smartphone fashions launched within the fourth quarter in Thailand embody Oppo Discover N3 Collection, Samsung Galaxy S3FE (Fan Version) and Apple iPhone 15, in line with Dusit Sukhumvithaya, CEO of cell phone vendor JayMart Cellular Plc.
Dusit forecasts that flip smartphone fashions will more and more attraction to high-end younger prospects, while foldable cellphones will stay a distinct segment market.
Dusit additionally expresses concern over the influence of change charges, as a weakening native foreign money can affect smartphone costs. Nonetheless, he identifies constructive indicators for the high-end phase in This fall, together with a brand new spherical of telephone worth subsidies from cell phone operators and improved airtime packages.
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Nonetheless, Dusit predicts the general cell phone market may contract by 12% this yr, reported Bangkok Submit.
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