HP explores local growth trends
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HP explores local growth trends

Firm unveils new strategy and service options

Ms Varanit says Thailand's young digital workers and high internet penetration rate make it an attractive market.
Ms Varanit says Thailand's young digital workers and high internet penetration rate make it an attractive market.

HP Thailand, the local operating unit of the global tech firm, has unveiled its "Future Ready" strategies for 2023-24, aiming to capture growth in Thailand's digital economy.

The company also plans to explore offering new business models for consumer subscription and device-as-a-service.

According to global research firm IDC, Thailand's personal computer market is forecast to grow 7.9% to 2.2 million units in 2023.

"HP is pivoting to be more growth-oriented, enabling technology to inspire meaningful change," said David Tan, vice-president and managing director of HP Southeast Asia.

"We see trends in urbanisation, sustainability and digital equality, which were all incorporated in our strategy."

HP's Future Ready vision and actions revolve around customers, with portfolio, operations and people its three pillars.

A more growth-oriented portfolio means tailoring its offerings to the ways people live, work and play, while the operations pillar strives for more supply chain resilience.

The people pillar aims to empowers its staff to do great work in a purpose-driven culture.

Mr Tan said the company sees business opportunity in the Thai education segment as the government is investing a lot in this arena. In Southeast Asia, education spending on technology is growing by 6%.

In Indonesia, HP is joining with the government to offer computers in either a rental or subscription model to schools, part of its digital equality efforts, he said.

Endpoint device security represents another growth segment, as HP offers Wolf endpoint device security solutions to protect data in hybrid work environments, said Mr Tan.

The device-as-a-service model is intended to support corporate customers in Thailand. HP set up a workforce solution group to work with partners and customers to support this model, he said.

In the consumer space, the company offers an instant ink and toner subscription model in Singapore, New Zealand and Australia, and is considering introducing it in Thailand.

Thailand has young digital workers, a high internet penetration rate, and a government policy driving adoption of technology, which makes it attractive, said Varanit Athijiratroj, managing director of HP Thailand.

The country has an 85% internet penetration rate and many small and medium-sized enterprises that employed 12.6 million people in 2022, accounting for 71% of total employment.

Roughly 57% of Thai businesses adopted hybrid work in 2022, while Thailand is the second-largest gaming market in Southeast Asia.

According to IDC, HP was the No.1 printer and personal computing vendor for unit shipments in Thailand in the first quarter 2023.

"Our product portfolios support work and play, security and sustainability by using sustainable design concepts, such as computer notebooks that use resins made from recycled cooking oil," said Sutee Suwongwatthanakun, market development manager for consumer PCs in Thailand.

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