Market Slumps but Toshiba Thailand Thrives, Plans New Image Focused on Durability, Variety, and Premium Quality

Toshiba Thailand The Japanese-origin electrical appliance brand Toshiba Thailand revealed its 2025 performance, reporting a strong 22% sales growth contrary to the severely sluggish Thai appliance market caused by various external factors such as economic downturns, natural disasters including floods and earthquakes, and a cooler climate last year which led to a drop in sales of air conditioners and fans across the market.

Kobkan Watthanawarangkul, Chief Executive Officer of Toshiba Thailand, said, “Toshiba Thailand has been with Thai people for over 57 years. This past year was one of the most challenging crises we have ever faced, but we managed to overcome it thanks to the cooperation of our customers, partners, and team. We remain confident that the company will continue to grow according to our set goals.”

2025 Performance Contrasts with Sluggish Market

In 2025, Toshiba Thailand's operations grew across all product groups, bucking the market trend. Comparing market growth rates with Toshiba Thailand’s by product category, the details are as follows:

• Refrigerator group: Market declined by 5.4%, Toshiba Thailand grew by 12.1%
• Microwave group: Market grew by 3.2%, Toshiba Thailand grew by 17%
• Washing machine group: Market grew by 7%, Toshiba Thailand grew by 30%
• Small electrical appliances group: Market declined by 0.4%, Toshiba Thailand grew by 31%
• Water-related products group: Market grew by 15%, Toshiba Thailand grew by 60%

This resulted in an overall growth rate of 22% for Toshiba Thailand, while the market declined by 7.1%.

Saowanee Sirariyakul, Chief Executive Officer (CEO) of Toshiba Thailand, stated that customers responded positively to all product groups last year, especially refrigerators, microwaves, and washing machines. Additionally, premium product lines increasingly met market demand. The compound annual growth rate (CAGR) in 2025 also rose to 16%.

“Having gotten through last year, we are no longer afraid of anything,” Saowanee Sirariyakul said, adding that in terms of unit sales, Toshiba Thailand remains number one, while its market share under Midea Group ranks third overall.

Saowanee Sirariyakul further stated, “In 2026, we (Toshiba Thailand) aim to become the number one electrical appliance brand in both the ASEAN and Thai markets and to increase our market share.”

Plan to Revamp Image to Target Younger Generation

The overall appliance market is projected to grow at a CAGR of approximately 3.8% (from 2023 to 2028), expected to reach a value of 105.6 billion baht. Market share by product is led by air conditioners at 30%, small appliances at 28%, refrigerators and washing machines each at 17%, and water-related products at about 8%.

With clear growth opportunities in electrical appliances, Toshiba Thailand aims for 30% growth, planning to revamp its brand image across four areas: product portfolio, sales channels, brand and marketing, and online channels.

• Products The product line will expand to a completed portfolio covering all categories, price ranges, and customer segments. Currently, over 300 product types are available, and gaps in all categories will be closed while upgrading designs to a premium standard.
  
  Arunpong Thongsutthi, Product Manager, explained that products are divided into four groups: Group 1, Entry-level, characterized by affordable prices and basic functions suitable for beginners; Group 2, Mass, essential household products with improved features and good value; Group 3, Premium, upgraded design and features with higher prices; and Group 4, Flagship, with top specs, premium materials, and high prices.

• Channel For physical sales channels and stores, adjustments will be made to showcase the full product range. Data analytics will be used to arrange products in stores aligned with consumer groups to enhance reach and close current gaps where customers cannot see all 300+ products. Additionally, technology upgrades will enable product tracking and reduce lead times.

• Brand and Marketing This year, Toshiba Thailand will accelerate its brand image renewal to reach younger customers, shedding the old image associated with appliances for older generations. The target age group will be customers aged 28 and above, down from the previous main group of 35 and older. Thanpaphat Ariyaworawat, Marketing Director, said that the company has increased its marketing budget by 12.5%, the highest ever, focusing more on online marketing channels.

• Online Channel Besides online marketing, Toshiba Thailand will support online sales to reach younger customers active in digital and social media. It will also introduce more affordable new products such as the Comfee brand to meet social media customers’ needs, who often seek inexpensive products and frequently change appliances.

Toshiba Thailand, under Midea Group, targets the medium segment catering to a broad customer base. Besides Toshiba, the company also manages Kuppersbusch for the premium segment, Midea competing with Chinese brands, and the newest Comfee brand serving online customers.

Furthermore, to better serve customers, Toshiba will enhance premium product services, including offering repairs within 24 hours.

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