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Thailand used smartphones market is expected to grow at a 13.9% CAGR over the forecasted period 2022P-2027F: Ken Research

Growing popularity of online marketplaces for the sale of used smartphones has substantially increased in Thailand. Easy EMI options, cash on a delivery, a wide variety of options, free home delivery, and other features offered have elevated the penetration of e-commerce platforms.Ā 

Covid Led Growth: There was a positive influence of Covid-19 in this market due to the shift from in-office work to work-from-home and online classes which influenced the purchase of used smartphones. During Covid-19, there was a fall in the income of consumers and therefore they were more inclined towards used smartphones.

Rising Government Support: Government policies including the promotion of the digital economy, the development of smart cities, and the allocation of 5G frequencies ensure that mobile telecoms infrastructure extends across Thailand, helping to stimulate stronger demand from consumers in new parts of the country.

Affordable Prices for Low to Mid-Income People: Used smartphones are cheaper than new smartphones and some people have a tendency of changing their smartphones frequently thus buying a used smartphone becomes feasible for them and this purchase pattern boosts the market. The high proportion of low to mid-income group, who cannot afford new smartphone, buy theses used phones.

Changing Technology for Smartphones and Gadgets:Ā  Scope for refurbished phones in Thailand has grown multifold. With the launch of new smartphone models, rapidly changing technology and gadgets becoming outdated than usual has given opportunity to this market.

Analysts at Ken Research in their latest publication- ā€œThailand Used Smartphone Market Outlook to 2027F– Driven by increasing smartphone penetration, reduction in electronic waste and adoption of 5G networkā€ by Ken Research provides a comprehensive analysis of the potential of the used smartphones market in Thailand. Reduction in electronic waste and increasing prices of raw materials of a new smartphone are expected to contribute to the market growth over the forecast period. Thailand used smartphones market is expected to grow at a robust CAGR over the forecasted period 2022P-2027F.

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