Bangkok Post – Sporting events offer edge to Thai TV market

Thailand’s television market is expected to grow this year thanks to global sporting events, according to LG Electronics (Thailand).

Amnaj Singhachan, head of marketing at LG Electronics (Thailand), said the TV market will be driven by two major sporting events: the UEFA Euro 2024 football tournament, which will take place from June 14 to July 14, followed by the Summer Olympics from July 26 to July 14. August 11 in Paris and the Paris 2024 Paralympic Games from August 28 to September 8.

Sales growth during Euro 2024 could be slightly higher than during the Olympics, he said.

“The Thai TV market is expected to see 30% year-on-year sales growth during Euro 2024, and LG TV sales are expected to align with this trend,” Mr Amnaj said.

He said sales growth during these major sporting events will be mainly generated by the Bangkok metropolitan area.

Mr Amnaj said that for 3 to 4 years, the average price of a TV was 12,000 baht, but it has fallen to around 10,000 baht.

“Many brands want to bring larger screen TVs to the market, ranging from 70 inches and above,” he said.

As Chinese brands cut prices to capture Thai TV market share, Mr Amnaj said LG would not follow this strategy and instead focus on high-end TVs by promoting its OLED TV.

Thailand’s television market was worth 21.2 billion baht last year, down 8.5% from the previous year.

The market is expected to reach 23 billion baht this year, up 8 percent, he said.

Sales of large-screen TVs are growing and account for 16.5% of total sales, up from 12.3% the previous year, Amnaj said.

The company aims to achieve revenue of 4.6 billion baht this year, a growth of 13 percent, surpassing the total growth of Thailand’s television market, he said.