IDC predicts smartphone market in Thailand to remain stagnant

The Thai smartphone experienced a significant decline in 2022 and is expected to remain stagnant due to inflationary concerns, rising interest rates, and a lacklustre growth forecast for the Thai economy, according to the International Data Corporation (IDC).

The IDC reported that 16.6 million smartphone shipments were made in 2022, marking a 21% decline from the previous year and the lowest number of units sold since 2014. In the fourth quarter of 2022, shipments fell by 23% year over year, reaching 4.2 million units.

The decline in shipments was largely attributed to the absence of government stimulus campaigns in 2022 that boosted smartphone adoption in the previous year, as well as the economic and inflationary pressures. The entry-level smartphone segment (US$200) was particularly affected, with its market share shrinking from 64% in the previous year to 59%. Additionally,…