Toshiba Thailand has exceeded its growth targets for five consecutive years and is gearing up for continued success in 2025. The company is set to launch new products targeting the mid-to-high-end market segment and has introduced its new Asia-Pacific regional brand ambassador, Takashi Sorimachi, a renowned Japanese actor.
Mr. Alex Ma, Deputy Managing Director of Toshiba Thailand Co., Ltd., discussed the overall home appliance market in Thailand for 2024, which includes refrigerators, washing machines, air conditioners, and small home appliances but excludes televisions. The total market value was approximately 83 billion baht, reflecting a 9% increase compared to 2023. In terms of volume, approximately 21 million units were sold, marking a 4% growth. The market can be divided into two main categories. The first category, major appliances-comprising refrigerators, washing machines, and air conditioners-accounted for around 65 billion baht with a growth rate of 11%. In terms of volume, around 5.6 million units were sold, an 8% increase. The primary drivers of this growth include extremely hot weather during the summer and ongoing economic expansion, boosting the demand for air conditioners and refrigerators. Meanwhile, the second category, small appliances, such as rice cookers, microwaves, water heaters, and fans, represented a market value of approximately 18 billion baht. The growth rate in this segment remained stable, with around 15.4 million units sold, reflecting a modest 3% growth. However, this segment did not perform as anticipated due to unfavorable weather conditions and reduced consumer purchasing power.
Regarding Toshiba Thailand's performance, Mr. Alex Ma revealed that 2024 marked the company's 55th anniversary in Thailand, and it achieved outstanding success with a total revenue growth of 24%, significantly surpassing its targets. The refrigerator segment remained the company's top revenue generator, achieving 20% growth, followed by washing machines with an impressive 39% growth. Microwave ovens grew by 21%, while small appliances, such as rice cookers, recorded a 10% increase. Sales of water-related products, such as water heaters, remained stable despite the overall market declining by over 10% due to unfavorable weather conditions. Air conditioners, though contributing a smaller proportion of sales, saw an exceptional growth of 82%. Over the past five years, from 2019 to 2024, Toshiba Thailand has consistently achieved a compound annual growth rate (CAGR) of 15%, demonstrating the company's ability to sustain long-term growth.
Thanks to consistent strong performance over the years, Toshiba now ranks in the top three across nearly all product categories. In the microwave segment, the company leads the market with a 29% share. Toshiba's refrigerators hold the second position with a 15.9% market share, rice cookers also rank second with a 9% share, and washing machines take the third spot with an 11.1% share. The factors contributing to Toshiba's sustained growth and strong market acceptance, which have resulted in a significant market share, stem from the trust in the brand cultivated through consistent activities over the years. Notably, in 2024, the company collaborated with Mr.Mark Prin Suparat, who played a crucial role in enhancing the brand's image and expanding its reach to new customer segments.
Furthermore, Toshiba's products are recognized by both consumers and partners for their quality and standards, particularly in terms of durability and designs that align with the lifestyle of the modern generation. The company's product development approach, which focuses on attention to detail and prioritizing consumer needs, has consistently earned positive feedback year after year. Additionally, Toshiba benefits from strong trade partnerships built on trust, enabling the company to expand its distribution channels comprehensively and effectively reach target markets. Internally, Toshiba has improved its management efficiency, particularly in supply chain operations and teamwork, further enhancing its overall performance and success.
Mr. Alex Ma added, "For 2025, the company has set a sales growth target of 25% with the ambition of becoming the number one home appliance brand in Thailand. Additionally, we plan to launch as many as 53 new models, focusing on the mid-to-high-end market segment, where customers place a higher value on design and product features. Building on the success of last year's JapanDi refrigerator series in white, which received an excellent response, this year we will introduce other product categories within the same series to better cater to our customers' preferences. We also plan to expand our distribution channels by more than 500 locations, placing greater emphasis on high-end product placement. Furthermore, we are investing significantly in modernizing store designs to make them more attractive and contemporary. Alongside this, we are enhancing our Experience Stores, which focus on showcasing Smart Solution products, allowing consumers to engage with and experience the functionality of our offerings at the point of sale. Finally, we are increasing the number and improving the quality of in-store sales staff to ensure that customers receive prompt and comprehensive assistance."
Mr. Alex Ma concluded, "In terms of marketing, we have significantly increased our budget. In addition to executing 360-degree marketing strategies across both online and offline channels, this year we have upgraded our brand ambassador to a regional level and developed numerous marketing plans to drive promotional activities. The final area that Toshiba places great emphasis on is customer service. We prioritize our customers by introducing special service channels for high-end products, deploying additional mobile service vehicles to enhance convenience, and expanding our onsite service teams to provide home service. Furthermore, we plan to increase the number of service centers, upgrade them to premium standards, and improve the overall service experience to ensure greater convenience and faster support for our customers."
Mr. Ekdanai Tuntipumiamorn, Product-Strategy Manager at Toshiba Thailand Co., Ltd., stated, "Over the past five years, Toshiba has focused its product strategy on three core pillars, which include: 1) the Mass Segment, targeting the mass market by offering essential products that every household needs and providing high-quality products at affordable prices to ensure wide accessibility for consumers; 2) the Mid to High Segment, expanding into the mid-to-high-end market, which has shown consistent growth each year, with consumers in this segment increasingly demanding larger-capacity products and specific features that cater to their lifestyle needs, such as convenience and cost savings; and 3) the Niche Market, entering niche markets with products that stand out in terms of design, specifications, or technology to address unique consumer needs. For 2025, we plan to launch 53 new models across various product categories, including 11 refrigerator models, 19 washing machine models, 16 kitchen appliance models, and 7 home appliance models."
"As previously mentioned by Mr. Alex, last year the company launched two new refrigerator models in the JapanDi series, featuring multi-door and French door designs in an elegant white color, which received an overwhelmingly positive response. This year, we are expanding the JapanDi lineup with the introduction of the MX1-TH23SC(WH) microwave, which boasts a striking white design with a wooden-patterned handle. With a 23-liter capacity, this inverter microwave is energy-efficient and offers a 4-in-1 functionality?allowing users to reheat, grill, bake, and steam all in one appliance. It also features a steam-cleaning option, which can be used not only for cooking but also for sterilizing dishes, glasses, and baby bottles. The microwave comes with 38 automatic cooking programs, ensuring ease of use and convenience."
Additionally, the company plans to launch a matching front-load washer and dryer in the same JapanDi series. These appliances feature a sophisticated white design with wooden-patterned control panels, seamlessly integrating with kitchens equipped with refrigerators and microwaves from the same series. They can be arranged either stacked vertically or placed side by side, allowing customers to choose a layout that best suits their style.
The front-load washing machine, model TW-T37BZP115MWT(WT), has a 10.5-kilogram capacity and is equipped with Ultra Fine Bubble Pro technology, producing ultra-fine bubbles that enhance stain removal. It also incorporates The GreatWaves 2.0 technology, which offers five water flow options for optimal cleaning performance, fabric care, and water and energy efficiency. Another standout feature is Aroma+, a single-button function that locks in freshness, leaving clothes smelling better for longer. The washer also features an oversized drum with a diameter of 535 millimeters, providing powerful spinning while reducing wrinkles in fabrics.
The dryer, model TD-T37BS90HWT(WT), has an 8-kilogram capacity and includes a Quick Dry 30' function that dries clothes in just 30 minutes. Utilizing a heat pump system, it adjusts the temperature to suit various fabric types, ensuring gentle care. The LuxeCare feature uses steam for delicate cleaning, reducing dust, wrinkles, and odors, and is ideal for preserving delicate fabrics such as silk and suits.
For refrigerators, in 2024, the company achieved a remarkable growth of 20% overall and maintained its leading position in the single-door and small two-door refrigerator segments, holding an impressive 40% market share. Small refrigerators grew by 14%, while medium-sized refrigerators saw a significant 60% increase. Meanwhile, large refrigerators, including side-by-side and four-door models, experienced the highest market growth. Toshiba achieved an outstanding 200% growth in this segment, making the GR-RS600 model the best-selling side-by-side refrigerator in Thailand.
Mr. Ekdanai added, "For 2025, we plan to launch 11 new refrigerator models and aim to develop new features to better meet consumer needs. For example, single-door refrigerators will feature automatic defrost systems similar to two-door models. Meanwhile, medium-sized two-door refrigerators will offer automatic ice-making functionality starting from a 14-cubic-foot capacity, compared to the standard 16-cubic-foot starting point for most models. This latest medium-sized refrigerator model is a source of pride, offering competitive specifications and pricing in the market. For the largest segment, we will introduce new side-by-side and four-door refrigerators with the largest capacity in the market?700 liters, or 25 cubic feet. These models will include the latest Pure Air Turbo technology, which eliminates odors three times faster by generating stronger and more concentrated electric charges. Additionally, the new Auto Ice Maker system has been enhanced to produce two ice sizes, small and large, to suit different beverages. This system can produce and store up to 4 kilograms of ice, making it 1.4 kilograms larger than the average ice storage capacity in the market. Toshiba also prioritizes addressing odor issues. We are proud to be the first brand to ensure that ice made from this new refrigerator is clean and odor-free. The refrigerator is equipped with an advanced filtration system to reduce odor contamination within the unit, allowing consumers to enjoy truly pure and fresh ice."
For washing machines, last year marked a record year for Toshiba, with an impressive 40% growth, particularly in top-load models with capacities of 12 kilograms and above, which saw a remarkable 70% increase. This strong performance was driven by the launch of new products, supported by the relocation of production for top-load washing machines (10-17 kilograms) and some front-load models to Thailand. This strategic move allowed Toshiba to offer more competitive pricing, resulting in a doubling of growth for Toshiba's front-load washing machines, compared to the overall market growth of just 6.3%.
For 2025, the company plans to introduce 19 new washing machine models with a target growth of 20%. The highlights include expanding the top-load lineup with models offering capacities of 18-19 kilograms. Additionally, we are upgrading product specifications by adding standout features such as Aroma+, which ensures fabrics stay fresh and fragrant for twice as long, and Steam Wash, a steam function designed to eliminate germs before washing. Moreover, the filter in the washing machines has been upgraded to stainless steel, enhancing both durability and hygiene. These are small but thoughtful details aimed at improving functionality for consumers. For front-load washing machines, building on last year's success with the launch of color-display models that received a positive response, we are expanding the lineup with 13-kilogram and 15-kilogram capacity options, available in both washing-only and washer-dryer models. Additionally, we have enhanced the Ultra Fine Bubble Pro feature, which not only generates nano-sized bubbles but also incorporates electrically charged particles to help remove stubborn stains from fabrics effectively.
Small home appliances, including both kitchen and household products, are a category where Toshiba stands as a true leader, boasting a portfolio of over 130 models. The standout product in this category is the microwave, which has consistently driven growth, solidifying Toshiba as the market leader. Another highlight is Toshiba's rice cookers, often celebrated on various social media platforms for their ability to cook rice that is deliciously soft and fluffy. This is attributed to their unique feature?a 4-millimeter-thick inner pot. Additionally, the SensTemp water heater has received an excellent response for its stable temperature control.
In 2025, Toshiba Thailand plans to launch 23 new models in this category, including rice cookers, microwaves, water heaters, water boilers, water filters, and fans. The latest SensTemp water heaters and water boilers are designed with advanced safety features, such as a durable copper tank that offers excellent heat conductivity and prevents scale buildup. A key innovation is the integration of a sensor at the water inlet valve to monitor temperature. The system calculates the appropriate energy level and adjusts the heating power, accordingly, ensuring stable water temperatures even when multiple taps are in use. This allows users to enjoy a warm, comfortable shower with confidence.
Another highlight is the 5-blade sliding fan with a cyclone design that delivers powerful airflow up to 12 meters. It offers four adjustable speed levels, a durable ball-bearing motor, and comes in three stylish colors: gray, beige, and aqua blue.
Ms. Thunpapat Ariyavoradh, Marketing Director of Toshiba Thailand Co., Ltd., elaborated on the company's marketing strategies, stating, "In 2024, in addition to celebrating Toshiba's 55th anniversary, we achieved remarkable success in brand building through ambassador marketing. With the support of Mr. Mark Prin Suparat, our brand became more widely recognized, expanding its existing customer base to include younger generations. This approach also enhanced Toshiba's brand image, making it appear smarter, warmer, and more modern. For 2025, we have upgraded our brand ambassador to a regional level across Asia-Pacific, appointing Mr. Takashi Sorimachi, a renowned Japanese actor, to reinforce Toshiba's image as a leading Japanese brand. We launched our first advertising campaign featuring him at the beginning of the year, which has been showcased on social media and billboards both inside and outside major airports, including Suvarnabhumi, Don Mueang, Chiang Rai, Chiang Mai, Hat Yai, and Phuket."
"Additionally, there are plans to release a new advertising campaign under the concept "Toshiba Japan Origin: Crafted with Design, Attention to Every Detail." The campaign draws inspiration from five core strengths of Japanese excellence, which include Design, Detail, Quality, Trust, and Innovation. The advertisements will be broadcast on TV, online platforms, BTS and MRT trains, billboards across Bangkok and provincial areas, as well as office buildings, covering over 3,000 screens in total. The campaign will also include point-of-sale media, digital content creation, social media marketing, and support from Key Opinion Leaders (KOLs) to enhance consumer awareness, understanding, and trust in Toshiba products."
"We are also preparing a series of roadshows and promotions throughout the year to give back to our customers. We also plan to revamp store designs to make them more attractive and modern, while expanding the number of Experience Stores. These stores will allow consumers to engage with and test our Smart Solution products, which integrate seamlessly with smartphones, try out kitchen appliances, and interact with sales staff who provide personalized experience like having a personal assistant," said Ms. Thunpapat.
Mrs. Kobkarn Wattanavrangkul, Chairperson of Toshiba Thailand Co., Ltd., stated, "The year 2024 marked the 55th anniversary of Toshiba Thailand, a milestone we celebrated with a wide range of marketing activities and campaigns that effectively allowed us to connect with both our existing customer base and new target groups. This success would not have been possible without the dedication and hard work of our 'Red Brick Team,' who are like individual bricks forming a strong and unified wall. We are also deeply grateful to our partners, distributors, and customers who have trusted the 'TOSHIBA' brand, enabling the company to reach this significant milestone. That said, this year presents new challenges stemming from the global and Thai economic situation. However, we remain committed to 'Bringing Good Things to Life' for Thai people by introducing innovative, Japanese-standard products that meet diverse needs, enhance convenience, promote better health, and support environmental sustainability. Toshiba Thailand is dedicated to achieving sustainable growth alongside fostering the growth of our partners and dealers. Equally important is our focus on giving back to society through various social responsibility initiatives, ensuring that Toshiba Thailand grows sustainably together with the Thai community."