Toshiba unit sets 25% sales growth target
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Toshiba unit sets 25% sales growth target

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Mrs Kobkarn said geopolitical tensions have prompted a rise in investment from Chinese brands, attracted by Thailand's robust supply chain.
Mrs Kobkarn said geopolitical tensions have prompted a rise in investment from Chinese brands, attracted by Thailand's robust supply chain.

Toshiba (Thailand) Co Ltd has set a sales growth target of 25% this year and is planning to launch more than 50 new products.

Alex Ma, the company's deputy managing director, said the value of Thailand's electrical appliance market in 2024 stood at 83 billion baht, reflecting a 9% increase year-on-year.

In terms of volume, around 21 million units were sold, marking a 4% growth year-on-year.

The sales figure includes refrigerators, washing machines, air conditioners and small home appliances, but excludes TVs.

Mr Ma anticipated that the market would grow by 5% year-on-year in 2025, slightly outpacing the country's rate of GDP.

The company is planning to launch a total of 53 new products in 2025, focusing on the mid-to-high-end market segment.

In 2024, Toshiba recorded 24% revenue growth.

The refrigerator segment remained the company's top revenue generator last year, achieving 20% growth, followed by washing machines with 39% growth.

Revenue from the microwave oven segment grew by 21%, while that of small appliances, such as rice cookers, grew by 10%.

Sales of water-related products, such as water heaters, remained stable despite the overall market declining by over 10% due to unfavourable weather conditions.

While they contributed a smaller proportion of the company's sales, airconditioner sales surged, recording an 82% increase.

Mr Ma said the company plans to broaden its distribution channels this year with the addition of 500 locations.

He added that both online and offline media will play a significant role in the strategy.

"This year, we have elevated our brand ambassador to a regional level and developed numerous marketing plans to drive our promotional activities," he said.

Ekdanai Tuntipumiamorn, product-strategy manager at the company, added that Toshiba's 53 new models would include 11 refrigerators, 19 washing machines, 16 kitchen appliances and seven home appliances.

Regarding the surge of foreign firms' expansion into Thailand over recent years, Kobkarn Wattanavrangkul, the company's chairperson, said geopolitical tensions have prompted a rise in investment from Chinese brands, attracted by Thailand's robust supply chain.

Moreover, she said products manufactured in Thailand are recognised for their quality and have gained the trust of consumers across the region.

Mr Ma added that competition in Thailand's electrical appliance market is intensifying, especially in terms of pricing and the value chain.

However, he believes this competition ultimately benefits consumers.

Mrs Kobkarn said while price competition is fierce, there is still room for each brand to secure its position in the market.

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