It’s Only Common Sense: Be the Vendor They Compare Everyone Else To
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According to International Data Corporation ’s (IDC) Worldwide Quarterly Mobile Phone Tracker, Thailand’s smartphone market shipped 16.9 million units in 2024, marking a 17.1% year-on-year (YoY) growth. There was a 14% increase in shipment volume in 1H24, with the growth increasing to 20% in 2H24. The market shipped 4.7 million units in 4Q24, marking a 27% increase YoY driven by an influx of mass-market, entry-level models from major vendors.
Despite a lackluster economy—albeit with higher GDP growth than in 2023—the market in 2024 was bolstered by a strong vendor push amidst intense competition as well as the increasing proliferation of financing programs.
The entry-level smartphone segment (<US$200) increased to 56.9% of the market, up from 54.8% the year before. On the other hand, the premium segment (US$1,000+) decreased in share to 9% compared to 12% the year before. There was particularly strong growth in the ultra-low-end segment (<US$100) and the mid-to-high-end segment (US$400<US$800), which grew from 11% to 14% and 9.5% to 12.8% share, respectively. The Average Selling Price of the total market was US$336, falling 7.5% in 2024.
The share of 5G smartphones increased to 45.6%, up from 43.2% in 2023, driven by the lower starting price and wider availability of affordable 5G Android models, as well as an increasing consumer appetite for 5G phones.
“With the market rebounding strongly in 2024 following two consecutive years of decline, vendors should continue to pursue growth. Despite macroeconomic and political uncertainty, vendors and channel partners are looking at market opportunities arising from government stimulus programs as well as increased affordability through financing plans.” said Apirat Ratanavichit, research analyst, IDC Thailand.
