Sitthichoke Nopchinabutr, vice president of computer and mobile communications at Thai Samsung Electronics Co.
South Korean tech giant Samsung is focusing more on the premium foldable smartphone segment to increase its market share amid tough economic times and intense competition.
He also said he expects foldable phones to become a mainstream segment in the future.
“By innovating in a high-end smartphone segment like foldable devices, it could allow us to retain and strengthen our market share,” said Sitthichoke Nopchinabutr, vice president of IT and mobile communications at Thai Samsung. Electronics Co, at a virtual press conference yesterday.
Citing research from market research firm GfK, he said the Thai market for premium smartphones costing over 20,000 baht suffered less from the economic impact of the pandemic in the first half of this year. year.
A total of 785,000 premium handsets were sold in Thailand in the first half of 2021, or nearly 787,600 registered in the same period last year. The total value of high-end phones sold jumped 11% year-on-year to $ 835 million (around 27.4 billion baht).
Regarding the non-premium smartphone segment, 7.8 million handsets were sold in the first half of this year, up 2% from the same period last year, supported by increased interest in budget devices in because of the economic difficulties. But the total value contracted 4% year-on-year to $ 1.3 billion.
According to Sitthichoke, the company’s third generation of foldable smartphones – Galaxy Z Fold 3 5G and Galaxy Z Flip 3 5G – received eight times more pre-orders than the previous generation last year.
“Thailand is among the company’s top three markets in Southeast Asia and Oceania,” he said, referring to pre-orders for the third generation of foldable devices.
The percentage of customers switching to Samsung increased from 20% to 30% when the latest models of foldable smartphones were launched.
In the Thai market, Samsung is offering a smartphone take-back program that stimulates new replacements, as well as a marketing campaign to attract trend-oriented buyers.
Mr Sitthichoke said the local smartphone market is competitive and Samsung will introduce new phones that can meet the needs of all segments.
Citing research firm Strategy Analytics, he said the foldable smartphone segment is expected to triple before the end of 2021 compared to the previous year. The compound annual growth rate will be around 113%, with total worldwide sales reaching 64 million units by 2025.
“Samsung has been the # 1 brand in the foldable smartphone segment for three consecutive years thanks to product development and a new form factor that best meets their needs and lifestyle,” Sitthichoke said, adding that foldable handsets could flourish to become a mainstream segment in the near future.
He said the local outlook for smartphones was still positive in the last quarter of this year, as the devices are essential tools for everyone’s daily life as competition in the market intensifies.