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Thailand: Smartphone sales set to rebound soon
Thailand’s smartphone market is expected to rebound in the second half, supported by strong demand in the premium segment that is less affected by economic woes, say industry pundits.
Bundled packages with instalment payments stretching up to 60 months are expected to improve purchasing sentiment.
South Korean electronics giant Samsung recently launched its new Galaxy S23 flagship smartphone.
Pre-orders for this premium handset are 130% higher than for the previous model Galaxy S22, reflecting the fact that demand for high-end smartphones remains strong, said Wansiri Fitschen, senior category manager at Thai Samsung Electronics.
Thailand is one of the top 10 markets for new Galaxy S23 handsets, she 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,” she said.
Sitthichoke Nopchinabutr, head of mobile business at Thai Samsung Electronics, said the country’s smartphone market is forecast to pick up in the second half, supported by a rebound in tourism and the upcoming general election.
The smartphone market last year contracted by double digits in terms of units but the total value continued grow, driven by the high-end smartphone segment and an uptick in prices, caused by supply shortages and a weaker baht, Mr Sitthichoke said.
He was speaking yesterday on the first day of Thailand Mobile Expo 2023, held at the Queen Sirikit National Convention Center (QSNCC). The event runs until Sunday.
Glen Cardoza, a senior analyst at market research firm Counterpoint, pointed out that “little to no growth” can be expected for Thailand’s smartphone market in the first half of this year, but in the second half there was a good chance of pent-up demand and resurgence of low-range smartphones, which could improve the industry’s ecosystem as a whole.
Opas Cherdpunt, chief executive of M Vision Plc (MVP), the organiser of Thailand Mobile Expo 2023, agreed that the current economic situation remains the biggest challenge for new handset demand.
Smartphone sales at the fair are expected to be at the same level of the previous event, at 1-1.2 billion baht in the best-case scenario, he said.
His company also organises Bangkok EV Expo 2023 to showcase electric vehicles (EVs) and related businesses, such as charging systems and solar rooftop technology, in parallel with the mobile fair.
“We decided to hold the EV-related event as those linked with the smartphone sector are expanding to EV business to capture the growth opportunity,” said Mr Opas. “An EV is a computer on wheels.”
MVP, through its subsidiary Ibeo, also organises the Tech Investment Show at QSNCC that gathers venture capital funds and startups for pitching opportunities.
At Thailand Mobile Expo, Chinese smartphone maker OnePlus also introduced its flagship OnePlus 11 5G, powered by the new Snapdragon 8 Gen 2, with enhanced CPU and GPU speeds, and improved power efficiency. It has a starting price of 29,900 baht.
Source: https://www.bangkokpost.com/business/2508524/smartphone-sales-set-to-rebound-soon