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Thai smartphone market registers growth after six quarters of decline

According to the International Data Corporation ’s (IDC) Worldwide Quarterly Mobile Phone Tracker, Thailand’s smartphone market saw initial signs of a recovery in 3Q23 after six consecutive quarters of annual decline as the market grew 1.6% year-over-year (YoY) and 8.3% quarter-over-quarter (QoQ).

Growth was particularly strong in the premium segment (US$1,000+) which grew 25.9% YoY driven by new model launches such as Apple’s iPhone 15 series and Samsung’s Galaxy Z Flip5 and Galaxy Z Fold5. The mid-range (US$200<US$400) also grew significantly in both value and volume, particularly driven by OPPO, Samsung and Xiaomi with the segment growing 61.8% YoY. The Average Selling Price (ASP) for the entire market was US$360, rising 7.8% YoY.

OPPO rose to first place due to its mid-to high-end Reno 10 Series, various new low-end model launches, and partnerships with telcos. Samsung, in second place, focused on the premium segment with its new foldable range as well as the mid-range segment with the Galaxy A series. Apple remained firmly in third with an increase in total shipments from both new models and previous generation models.

The share of 5G smartphones increased to 46%, up from 38% in 3Q22 and 37% in 2Q23, driven by the increased launches and shipments of 5G Android models in the mid-range to lower-end segments as well as increased shipments in the premium segments.

“The Thai smartphone market is expected to round off 2023 with a high single-digit decline for the full year. Nevertheless, in 3Q23 the market experienced initial signs of a recovery with increasing consumer confidence and retail spending in the overall economy. The Thai smartphone market is expected to gradually bounce back as the country enters the year-end season and the economy picks up steam from the government’s planned stimulus policies in the coming quarters,” said Apirat Ratanavichit, Research Analyst at IDC Thailand.


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