The Thailand smartphone market has showcased a huge potential for growth after the region recorded a year on year growth of 18 percent in terms of shipments in the first quarter of this year.
According to a Counterpoint Research report, there were multiple factors that supplemented this growth. This included the pent up demand that was carried forward from the final quarter of last year, which paired with an aggressive scheme and offers from smartphone brands and their channel brands, especially in the online mediums. While the region is recovering from the impacts of the coronavirus pandemic from 2020, there is a healthy demand for smartphones by the consumers.
As per Senior Research Analyst Glen Cardoza, “The top six brands are aggressively trying to capture more market share but there are other brands at play as well. The declining volumes of Huawei and HONOR, and the upcoming Transsion brands like Infinix and TECNO are all variables that continue to add volatility to this strong smartphone market. Brands like Xiaomi and realme are trying hard to capitalize on their online prowess to improve their presence.”
Notably, the chip shortage has also affected this region as well, with shipments being behind and sales not taking advantage of the full potential of the market. Although, Thailand did see a 49 percent year on year surge in online sales in Q1 2021, with Chinese smartphone manufacturers taking the lead in this channel.
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