Apple rebound rallies retailers

Apple rebound rallies retailers

Customers queue up to get an iPhone 11 at Iconsiam's Apple store. The tech giant released its latest iPhones on Friday. (Photo by Pawat Laopaisarntaksin)
Customers queue up to get an iPhone 11 at Iconsiam's Apple store. The tech giant released its latest iPhones on Friday. (Photo by Pawat Laopaisarntaksin)

Hype was rampant for the first day of sales of the iPhone 11 series in Thailand, with scores of fans flocking to Apple stores.

The new model is expected to bolster smartphone retailers' revenue through the end of the year.

The Iconsiam mall that houses the first official Apple store in the country reported a huge number of Apple fans thronging the store overnight.

The first customer, Jakkri Saiwongpia, started queuing at midnight. He came to pick up an iPhone 11 Pro Max that he booked earlier online, Iconsiam said on its Facebook page.

The Apple shop run by Copperwired Plc at Central Silom Complex also saw a long queue on Friday morning.

"The first day of sales of the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max in Thailand saw a positive response from customers," said Sura Khanittaweekul, chief executive of SET-listed IT retail chain Com7 Plc. "Pre-booking of the devices doubled from that of previous models launched last year."

Com7 also operates IT shops under the Banana IT and Studio 7 brands.

The iPhone 11 is priced between 24,900 and 30,900 baht, depending on memory space. It comes with two back cameras, including an ultra-wide-angle lens and the next generation of microchips, the A13.

Mr Sura said the starting price of the iPhone 11 is competitive.

The appreciation of the baht also makes the phone's prices comparatively lower than in other Asean countries, particularly Singapore.

"This is the best price ever, I think," Mr Sura said.

The iPhone 11 Pro, which has three rear-facing cameras, will retail for 35,900-48,900 baht, while the bigger-screen iPhone 11 Pro Max is priced at 39,900-52,900 baht.

Apple slashed the price of its Series 3 smartwatch from 12,000 to 6,490 baht.

"With this price, it will make Apple Watch attract a larger user base," Mr Sura said.

In the fourth quarter, normally a high season for IT product sales, users tend to buy gadgets as gifts, including flagship smartphones, he said.

Mr Sura said Com7's revenue is expected to reach 30 billion baht this year, thanks to the rebound of Apple product sales, including new iPhones and smartwatches, as well as branch expansion. The figure would be up 10% from 27.9 billion baht last year.

Opening a total of 800 branches is the goal of Com7, which has 731, as more room is still available upcountry.

Copperwired, a key retailer of Apple products, On Friday saw the first day of trading for its initial public offering (IPO) on the stock market.

The company offered 160 million newly issued shares via an IPO at 2.38 baht each. Its shares opened at 2.68 baht, up 12.6% from the IPO price.

According to DBS Vickers Securities Thailand, CPW shares would receive a boost from the promising sales of the iPhone 11, as the handset's price was lower than the comparable model rolled out last year, which could prompt demand.

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