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© stevanovicigor dreamstime.com Electronics Production | March 19, 2015

Thailand losing out to low-cost alternatives

Next month, the last of LG's TV's will roll off the production line at the company's production facility in the Rayong province in Thailand.

The electronics industry in Thailand has met some steep competition from other countries in the region, loosing out to countries such as Vietnam, where labor costs are cheaper and Chinese suppliers are much closer. according to a Reuters report. LG's move to relocate production to Vietnam needs to be put in a broader perspective. In January, the Thailand's manufacturing index fell for the 22:nd consecutive month, with production of devices like televisions and radios down 38 percent YoY. The downturn has also led experts to consider if this is a more permanent state for the country. One problem is that there are low-cost alternative in neighbouring countries. The country has matured for more advanced technology, but Visnu Limwibul, president of the Thai Electrical, Electronics, Telecommunication and Allied Industries Club, told Reuters that no such investments are made.
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October 11 2019 3:09 pm V14.5.0-2