Plan B Media Public Company Limited, or PLANB, has disclosed a plan to make a strategic investment in iCare, a company within the COM7 group that specialises in mobile phone insurance and electronic device protection products. PLANB sees smartphones as increasingly valuable and central to daily life, spanning work, finance and various activities, leading consumers to place greater importance on caring for and protecting their devices, especially premium smartphones priced in the tens of thousands of baht, where damage or repair costs can create a financial burden. In addition, growing behaviour of buying smartphones through credit and instalment plans is helping to support demand for protection products. PLANB stated that a key strength of iCare is its position within the COM7 ecosystem, which has a large distribution network for smartphones and IT devices, along with a customer base and sales channels that directly link insurance products to device purchases. This investment is therefore an investment in the mobile phone protection business, which has room to expand on the back of rising device values, the role of smartphones in daily life, and the growth of credit and instalment plans. PLANB believes that the strength of iCare, together with the COM7 ecosystem, will be an important foundation for extending the growth opportunities of the mobile phone insurance business over the long term.
Plan B Media PCLPLANB disclosed a strategic investment plan in iCare, the phone insurance business within the COM7 group.
Com7 PCLPLANB's investment highlights iCare's strength within the COM7 ecosystem, whose large smartphone/IT distribution network and customer base support demand for device protection products.
