Increasing prices of a new smartphone, and a high proportion of low- to mid-income consumers will boost Thailand Used Smartphone Market: Ken Research

1.  Used Smartphone Industry in Thailand grew at a CAGR of 11.6% during 2017-2022P

Improved technology used in the process of refurbishment will promise the premium quality of refurbished phones. The inclusion of accessories sold along with refurbished phones to provide first-hand experience can also be a possibility. The market size of the new smartphone market is expected to increase at a CAGR of 13.6% from 2022P to 2027F. Adoption of 5G network and increasing smartphone penetration will contribute to the expected growth. The average price of used smartphones is expected to increase at a CAGR of 4.2% from 2022 the as market size of the used smartphone is expected to increase as well.

2. Unorganised distribution channel has dominant share owing to online marketplaces who source second hand smartphones from offline stores and then sell it from their online marketplace

The high revenue share of unorganized distribution channels is due to the presence of online marketplaces that source second-hand from offline stores/dealers and then sell it to second-hand buyers from their online marketplace. There is no systematic and organized distribution channel that is followed.

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3.  Retail customers captures market at ~% owing to high proportion of low to mid income group in Thailand used smartphone market

Retail customers captures ~% market share by sourcing medium. This is due to presence of high proportion of low to mid income group in Thailand. They prefer buying used smartphone instead of new smartphone, thereby capturing major market share by sourcing medium. Business as well captures significant market share at ~% as they need to distribute smartphone to employee for work purpose and to be cost efficient, they purchase used smartphone which is not hard in the pocket and gets the work done.

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/thailand-used-smartphone-market-outlook-to-2027/596235-95.html

Related Reports by Ken Research:-

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/indonesia-used-smartphone-market-outlook/550569-95.html

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/malaysia-used-smartphone-market-outlook-to-2026/596249-95.html

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This release was published on openPR.