Thailand’s smartphone market continues to hold promise for device makers, despite facing economic strain and reduced support for handset subsidies from mobile operators. Chinese smartphone maker Oppo believes that the high-end segment, in particular, still offers immense potential in the country’s smartphone market, which is valued at over 100 billion baht and considered a gem within Southeast Asia.
Although the country’s economy is facing challenges, Thailand still boasts above-average mobile phone selling prices, largely driven by consumers’ strong purchasing power when it comes to flagship models. While entry-price smartphones have experienced falling sales, premium-range models have been relatively less affected.
Chanon Jirayukul, Senior Executive Vice-President at Thai Oppo Co, acknowledges that Thailand’s lucrative smartphone market attracts intense competition within the Southeast Asian region. However, he believes that this competition ultimately benefits consumers, as new players constantly enter and re-enter the market.
While unit sales of smartphones may decline, Chanon emphasizes that the overall market value remains highly promising. However, he anticipates that the total smartphone market in Thailand is unlikely to experience significant growth this year due to challenging economic conditions. Moreover, mobile operators are reducing smartphone price subsidies as they tighten their marketing budgets.
Oppo has seen a significant increase in its market share in the local high-end segment in recent years. The company’s presence has been further solidified with the introduction of the Oppo Find N2 Flip smartphone model, which has been well-received. Chanon Jirayukul reveals Oppo’s goal to elevate the market share of its flagship models from single-digit figures to double-digit figures.
Having been present in Thailand for 15 years, Oppo considers it a premier market outside of China. The mobile phone manufacturer is associated with brand prestige, premium quality, and innovative offerings. Its customer service centers in various shopping malls have played a significant role in gaining acceptance among consumers. In fact, Oppo secured the second-highest market share in the overall smartphone market in Q1 of this year.
In an effort to further reinforce its market share, Oppo recently unveiled the Reno10 Series 5G smartphone model. The medium-priced device features a telephoto portrait camera capable of capturing professional-grade portrait focal lengths and extremely clear portrait images. Chanon Jirayukul affirms that Oppo’s journey extends beyond smartphones, with a focus on increasing revenue from Internet of Things (IoT) devices like smartwatches and tablets.
Thailand’s smartphone market experienced a 20% year-on-year decline in sales during the first quarter, compared to a global decline of 14.6%. Notably, the drop primarily originated from the low-end smartphone segment, according to IDC, a global IT research firm.
Despite the economic strain and reduced subsidies, Thailand’s smartphone market continues to display incredible potential, particularly for high-end models. Oppo remains optimistic about the overall market value, even as unit sales decline. As competition persists and new players enter the market, consumers are likely to benefit from the ongoing evolution of the smartphone landscape.
