Chinese smartphone manufacturer Honor goals to secure a position among the top three manufacturers within the Thai market throughout the subsequent three years. To obtain this, the company plans to give attention to heavy marketing investments and related activities.
Sutida Mongkolsuthree, CEO of Synnex (Thailand), the only distributor of Honor cellphones in Thailand, believes that the general market share of Honor can be elevated to 3-4% this yr.
Over the past 10 months, Honor re-entered the Thai market, appointing Synnex as its sole distributor and service provider. The firm has managed to achieve a 5-7% market share within the mid-to high-priced smartphone phase, priced between 10,000 and 20,000 baht. However, Honor’s share of the general smartphone market stays below 1%.
This week, Honor launched its flagship smartphone model, the Honor Magic5 Pro 5G, in Thailand. According to Mongkolsuthree, general smartphone gross sales account for 40% of Synnex’s total income. She also famous that knowledge from IT analysis agency IDC showed that Thailand’s smartphone market contracted 17% year-on-year within the first quarter.
Mongkolsuthree acknowledged that buyers are currently cautious of their spending, especially in the entry-level smartphone section. In this phase, prospects now choose cell phones costing lower than 5,000 baht, compared to the earlier concentrate on devices costing around 7,000 baht.
Despite the robust competition within the entry-level smartphone market, Mongkolsuthree believes that the market situation will improve in the second half of this yr, significantly within the fourth quarter. Freebie talked about that Synnex has obtained help from Honor by way of advertising, brand store enlargement, and selling special-priced merchandise to attract prospects.
Honor, which was beforehand a sub-brand underneath Huawei, separated from the parent firm in 2020. The new parent company was co-founded by Shenzhen Smart City Technology Development Group. Last year, Honor held the No. 2 position in China when it comes to market share and ranked No. 6 globally. In Malaysia, the brand has a 7% market share..