IDC predicts smartphone market in Thailand to remain stagnant

The Thai smartphone skilled a big decline in 2022 and is anticipated to stay stagnant because of inflationary concerns, rising interest rates, and a lacklustre development forecast for the Thai economic system, in accordance with the International Data Corporation (IDC).
The IDC reported that 16.6 million smartphone shipments have been made in 2022, marking a 21% decline from the earlier year and the lowest variety of models sold since 2014. In the fourth quarter of 2022, shipments fell by 23% 12 months over yr, reaching 4.2 million units.
The decline in shipments was largely attributed to the absence of presidency stimulus campaigns in 2022 that boosted smartphone adoption within the previous year, in addition to the financial and inflationary pressures. The entry-level smartphone segment (US$200) was particularly affected, with its market share shrinking from 64% in the earlier 12 months to 59%. Additionally, the common promoting worth (ASP) increased by 15% 12 months on year (YoY) to US$329 in 2022.
Although the share of 5G smartphones elevated from 24% in 2021 to 35% in 2022, the conversion from 4G to 5G was not as important as the shift from 3G to 4G because of affordability issues and a scarcity of compelling use cases for customers.
Spoiler , Market Analyst at IDC Thailand, mentioned he anticipates flat development for the Thai smartphone market in 2023 due to ongoing inflationary considerations, rising interest rates and a lacklustre development forecast for the Thai financial system.
“Overall consumer spending energy is unlikely to rebound within the short time period, largely affecting the lower-end section which comprises the majority of the smartphone market. On the premium finish, IDC expects sustained growth as customers are interested in vendor choices with a superior user experience, better specifications and improvements.”
Top 5 Smartphone Vendor Highlights
During the fourth quarter of 2022, Samsung continued to steer the smartphone market for the sixth consecutive quarter, despite a decline of 11% quarter over quarter (QoQ) and 20% YoY in its market share. Samsung’s premium Galaxy S/Foldable smartphones performed properly during the holiday interval.
Apple rose to the second spot with a 30% QoQ enhance but noticed a decline of 7% YoY. The launch of the new iPhone 14 range in September 2023, as opposed to the earlier year’s fourth quarter, resulted in a stronger third quarter shipment. The iPhone 14 Pro vary continued to outperform the iPhone 14 vary, whereas the iPhone 11 and other n-1 and n-2 fashions received value cuts and continued to promote properly.
OPPO dropped to the third spot but skilled an 18% QoQ improve in gross sales, with a slight zero.6% YoY lower. Most of OPPO’s shipments had been in the low-end segment, which grew 28% QoQ and 12% YoY. The A16k, A17, and A57 were the primary volume drivers, and OPPO ran campaigns to promote sell-out, including retail-level provides and promotions for promoters.
Vivo rose to the fourth spot, with a 36% QoQ development but an 18% YoY decline. Sales within the low-end section rebounded by 47% QoQ after important declines in previous quarters, while sales in the mid-range section rebounded by 70% however decreased by 19% YoY. Vivo continued to run advertising campaigns and launched a quantity of models within the low-end Y sequence, in addition to introduced the IQOO model in Thailand.
Xiaomi dropped to the fifth spot, with a 3% QoQ decline and a 50% YoY decline. Telco sales increased considerably, as the Redmi 10 5G remained a key model within the inexpensive 5G phase. Xiaomi noticed a decline in low-end phase sales however rebounded in the ultra-low-end (US$100) segment with the launch of Redmi A1..

Leave a Comment