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, from work and finance to a wide range of 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 become a financial burden for consumers. Another key factor is the growth in purchasing smartphones through credit and instalment plans. A major 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 can link insurance products directly to device purchases. PLANB believes that the strength of iCare, combined with the COM7 ecosystem, will serve as an important foundation for capturing the long-term growth opportunities in the mobile phone insurance business.
Plan B Media PCLPLANB makes a strategic investment in iCare to expand into mobile phone insurance, a financial/M&A event.
Com7 PCLiCare, within the COM7 group, gains a strategic investment from PLANB, leveraging COM7's distribution network and customer base to link insurance to device purchases.
