Thai mobile retailer Jaymart is planning further expansion, banking on growing demand for smartphones and tablets among Thais.

Jaymart says it will invest 250 million baht (US$8.6 million) to open 60 new stores this year, taking the store count to 280. It targets sales of 1.5 million mobile phones this year from 1.1 million last year.

The retailer said the expansion is prompted by tremendous shift in demand from 2G to 3G smartphones.

“Sales of mobile handsets will reach 20 million units this year, with smartphones accounting for 12 million units,” said Jaymart CEO Adisak Sukumvitaya.

Mobile accessories, which account three per cent of the total revenue, are expected to generate a revenue of 300 million baht (US$10.4 million) this year.

Total revenue is expected to advance 40 per cent to 11 billion baht (US$382.4 million) this year from 8 billion baht (US$278.2 million) in 2012.