Smartphone manufacturers are parading their premium devices with artificial intelligence (AI) capabilities, foldable mobile phones, and gaming mobile phones to woo affluent Thai consumers in the first quarter.
The move aligns with the government's tax incentive for shopping and the festive mood of Chinese New Year.
Sales at Thailand Mobile Expo 2024 are expected to increase at least 10% from 1 billion baht posted at the previous event held last October, Opas Cherdpunt, chief executive at organiser M Vision, told the Bangkok Post on the first day of the event on Thursday at Queen Sirikit National Convention Center.
The expo runs until Sunday.
He attributed the higher sales to the launch of new phone models, the government's Easy E-Receipt tax incentive and sentiment for Chinese New Year.
Under the tax scheme, individuals can receive a tax deduction of up to 50,000 baht for the purchase of goods and services from business operators backed by the e-tax system between Jan 1 and Feb 15 this year.
Mr Opas said a few products have been launched over the past two years, but many more new models are available this year as analysts forecast potential for phone replacement, a cycle that occurs roughly every two years.
Three models were introduced at the expo, comprising the AI-enabled Samsung Galaxy S24 series, Oppo Reno 11 Series and Honor Magic v2 foldable smartphone, while Asus and ZTE offered new gaming mobile phones, with all devices carrying a price tag ranging from 30,000-60,000 baht.
He said buyers of gaming mobile phones have high purchasing power.
Mr Opas said he was concerned sales of phones priced less than 12,000 baht, as well as entry-level phones, could be weak as some users do not plan to buy new devices unless their current one breaks.
Dusit Sukhumvitaya, chief executive of Jaymart Mobile Co Ltd, said for the first quarter the Thai smartphone market should benefit from the Easy E-Receipt scheme and sentiment for Chinese New Year. In addition, many new products are available in the local market.
Apple lowered prices of iPhone models in Thailand by around 3,000 baht on average, in line with the exchange rate, which should help consumers, he said.
Financial programmes are an important factor in buyers' purchasing decisions, said Mr Dusit. In addition to joining with Samsung Financial, Jaymart also partners with True Money to offer loans to people without credit cards.
Sitthichoke Nopchinabutr, vice-president of mobile experiences at Samsung Electronics, said the new Samsung Galaxy S24 series gained positive feedback during recent pre-orders.
Earlier he said the volume of S24 series pre-orders in Thailand ranked in the top five globally and was the largest in Southeast Asia and Oceania. The excitement for the series is not just pre-order hype, but should be sustained, said Mr Sitthichoke.