A budget phone boom pushed Thailand’s smartphone market to new heights in 2024
Affordable 5G phones and easy financing are winning over Thai consumers.
Not long ago, getting your hands on a brand-new smartphone in Thailand often meant shelling out a hefty sum upfront. But in 2024, that changed dramatically.
With an influx of budget-friendly devices and the rapid rise of financing programs, more people than ever upgraded their phones without breaking the bank. The result? A 17.1% year-on-year growth in smartphone shipments, marking a remarkable turnaround after two years of decline.
According to IDC’s Worldwide Quarterly Mobile Phone Tracker, 16.9 million smartphones were shipped across Thailand in 2024, with growth accelerating as the year progressed. The first half of the year saw a 14% increase in shipments, but the real surge came in the latter half, where growth soared to 20%. By the final quarter, 4.7 million units had been shipped, representing a 27% year-on-year jump, fueled largely by mass-market, entry-level models flooding the market.
Despite economic uncertainty, the smartphone industry flourished, driven by aggressive competition among vendors and the rising popularity of financing plans that allowed consumers to pay for their devices in instalments. The shift toward affordability was undeniable.
The entry-level segment (under $200) expanded to 56.9% market share, while premium devices ($1,000+) declined to 9%. The biggest spikes in growth came from the Ultra-low-end models (under $100) and mid-to-high-end devices ($400–$800) also saw growth, pushing the average selling price down to $336 (-7.5% YoY).
Another defining trend was the growing presence of 5G smartphones, now within reach for more consumers. Thanks to falling prices and an expanding selection of affordable 5G models, the share of 5G-enabled devices grew to 45.6%, up from 43.2% in 2023.
Samsung and OPPO tied at the top, each shipping 3.3 million units, securing 19.4% and 19.2% market shares, respectively. Apple followed with 2.7 million shipments, while Xiaomi saw 21.5% growth, reaching 2.5 million units. The standout performer was vivo, which grew a remarkable 41% YoY, shipping 2.1 million units.
“With the market rebounding strongly in 2024 after two years of contraction, vendors have a chance to capitalize on this momentum,” said Apirat Ratanavichit, Research Analyst at IDC Thailand. With competition intensifying and budget-conscious consumers continuing to drive the market, 2025 is set to be another defining year for Thailand’s smartphone industry.
