Luxury Portable Consumer Electronics in Thailand

PROSPECTS

The exit of Vertu leads to a drastic decline in sales

Over the forecast period, luxury portable consumer electronics is expected to continue to see a steep decline, largely due to Vertu’s exit. In 2018, Vertu’s two boutiques, at Gaysorn Village and Siam Paragon, closed down.

Luxury smartphones enter the fray

While there is little room for luxury brands in mobile phones, new products were launched in 2018 to capture a rather niche demand in the marketplace. For example, Porsche Design Huawei Mate RS, which highlights its features and innovative technologies, such as Leica triple camera, OLED display, fingerprint verification and waterproof and water resistance attributes.

High-value gadgets set to gain traction

Other high-valued gadgets, of which Gold Elite Paris smartphone is a highlight, are expected to gain traction in the forecast period. Gold Elite Paris claims to offer high-value products and a superior service.

COMPETITIVE LANDSCAPE

The exit of the absolute luxury brand Vertu damages the category

The demand for luxury portable consumer electronics remains niche; visible mainly among affluent tech-savvy consumers. Similarly, brand variety remained limited.

Brand collaboration offers some respite

The adoption of consumer electronic devices in the country is clear, but the presence of luxury wearables or mobile phones is still very limited. TAG Heuer is a well-known brand present in luxury wearables, but it sells only certain models in limited quantities and selected store locations in Thailand.

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