Targus taps Thailand for GMS sales
Targus Inc, a California-based maker of mobile accessories and cases, is doubling its investment in Thailand this year.
It recently named Thailand as its Greater Mekong Subregion sales and marketing hub, with a particular focus on Myanmar, Laos and Cambodia.
"Thailand provides a significant opportunity for us, representing one of our top three largest markets in Southeast Asia, as the country has seen exponential growth of smartphones and internet-connected devices," said Srithar Balakrishnan, Targus Asia Pacific's general manager for Asia.
He said even though Thailand had suffered a prolonged political crisis, the economy showed promising growth, with consumer confidence rebounding.
Mr Balakrishnan cited urbanisation as a major factor in increasing demand for mobility and changing consumer lifestyles.
He said Targus was doubling this year's marketing budget in Thailand but declined to offer figures.
The money will be used to expand distribution channels into large retail shops, department stores and IT dealers, Mr Balakrishnan added.
Saksri Khamkaweeprat, country sales manager at Targus Thailand, said the company expected revenue growth of 40% this year, double last year's rate, helped by the upcoming arrival of Apple's iPhone 6 and iPad Air 2 and Samsung's Galaxy Note 4.
"We believe the arrival of new smart internet-connected devices will stimulate demand for new cases for mobiles and tablets," he said, adding that Targus was an official partner of Apple and Samsung.
Revenue from smartphone and tablet case sales is expected to comprise 15-20% of total revenue, up from 10% last year.
Mr Saksri said the company was also on the verge of expanding into online sales in collaboration with Lazada.co.th and Big C Supercenter's shopping website.
Targus is increasingly focusing on corporate customers as mobile offices create new demand for docking stations with a cable lock for notebooks to facilitate remote working and deliver enhanced security.
"We expect corporate customers to account for 10% of revenue next year, up from an estimated 5% this year," Mr Saksri said.