Thailand’s Smartphone Market Shows Recovery with 3Q23 Growth

Thailand’s smartphone market is witnessing a turnaround, marking a positive shift in the third quarter of 2023.
IDC report on Thailand smartphone market in Q3 2023After facing six consecutive quarters of annual decline, Thailand’s smartphone market surged ahead, registering a 1.6 percent year-over-year (YoY) growth and an impressive 8.3 percent quarter-over-quarter (QoQ) expansion, according to IDC.

Leading phone suppliers in the smartphone market in Thailand and their respective share are the follows:  Oppo (22 percent), Samsung (17.4 percent), Apple (16.5 percent), Xiaomi (14.2 percent), Realme (11.8 percent), and others (18.1 percent) in Q3 2023, according to IDC.

The resurgence in Thailand’s smartphone market primarily stems from a notable upswing in the premium segment (devices priced at $1,000 and above), which saw a remarkable 25.9 percent YoY surge. This surge was fueled by the introduction of new models like Apple’s iPhone 15 series and Samsung’s Galaxy Z Flip5 and Galaxy Z Fold5.

Furthermore, the mid-range smartphone market (ranging between $200 and $400) witnessed significant growth in both value and volume.

Brands such as OPPO, Samsung, and Xiaomi led the charge, propelling the segment to a remarkable 61.8 percent YoY growth. The overall Average Selling Price (ASP) for smartphones in the market climbed to $360, marking a 7.8 percent YoY increase.

OPPO clinched the top spot in market rankings, attributed to its successful mid-to-high-end Reno 10 Series, a slew of new budget-friendly models, and strategic partnerships with telecommunication companies.

Samsung secured second place, focusing on both the premium segment with its innovative foldable range and the mid-range segment with its Galaxy A series. Apple maintained a firm third position, benefitting from increased shipments of new and previous generation models.

Notably, Thailand’s smartphone market also witnessed a surge in the share of 5G-enabled smartphones, which surged to 46 percent from 38 percent in 3Q22 and 37 percent in 2Q23. This spike in 5G phones in Thailand was fueled by the increased launches and shipments of 5G Android models in the mid-range to lower-end segments, as well as heightened shipments in the premium category.

Apirat Ratanavichit, Research Analyst at IDC Thailand, expressed optimism, stating, “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.”