24-7-2023 (BANGKOK) Chinese smartphone giant Oppo predicts that Thailand’s smartphone market, with a market value surpassing 100 billion baht, will continue to be an attractive “sweet spot” for device manufacturers in Southeast Asia, particularly for flagship models. Despite the country’s challenging economy and reduced handset subsidy support from mobile phone operators, Oppo remains optimistic about the market’s potential.
Chanon Jirayukul, senior executive vice-president at Thai Oppo Co., emphasized that Thailand’s smartphone market is highly competitive, making it an alluring destination in the Southeast Asian region. The country boasts above-average mobile phone selling prices, driven by consumers’ strong purchasing power for premium flagship models. Consequently, despite the economic difficulties, flagship smartphones have experienced minimal impact compared to lower-priced entry-level devices, which have faced declining sales.
Mr. Chanon stated, “The market consistently sees new players entering, exiting, and re-entering. All this competition benefits consumers.” He believes that although smartphone unit sales may experience a decline, the overall market value holds great promise.
The challenging economic situation and tighter marketing budgets have led mobile phone operators to reduce smartphone price subsidies. Consequently, Thailand’s smartphone market is projected to see limited growth in 2023. However, Mr. Chanon expressed confidence in the resilience of high-end models, especially with Oppo’s success in the local high-end segment and the positive reception of their Oppo Find N2 Flip smartphone model launched in 2023.
Oppo aims to enhance its flagship models’ market share from single digits to a double-digit share, capitalizing on Thailand’s status as Oppo’s first market outside of China. Having established a strong presence in the country over the past 15 years, Oppo’s brand represents quality and innovation. The company’s extensive network of customer service centers in shopping malls has contributed to its widespread acceptance. In fact, Oppo secured the second-largest market share in the overall smartphone market in the first quarter.
To bolster its market standing further, Oppo recently introduced the Reno10 Series 5G smartphone model, which offers a “telephoto portrait camera” capable of producing professional portrait focal lengths and ultra-clear portrait images.
Mr. Chanon highlighted Oppo’s vision to evolve into more than just a smartphone manufacturer. The company plans to venture into the Internet of Things (IoT) sector by increasing its revenue through the development of smartwatches and tablets.
While Thailand’s smartphone sales experienced a 20% year-on-year decline in the first quarter, compared to a global fall of 14.6% in the same period, Oppo remains enthusiastic about the long-term prospects of the Thai market. As competition continues to spur innovation and customer benefits, Oppo is poised to thrive in the thriving Southeast Asian smartphone landscape.
