AIS vs True: Fierce battle for billion baht telecom market supremacy

Fierce competition is expected in the second half of the year as both giants battle for valuable spectrum assets in a bid to claim market leadership. The upcoming spectrum auction by the National Broadcasting and Telecommunication Commission (NBTC) in May is anticipated to trigger major bidding wars, laying the groundwork for advanced technologies to better serve customers and expand into the virtual banking arena.

AIS, backed by major investor Gulf, is set to accelerate its entry into new ventures, particularly in data centres and full-scale cloud services. Meanwhile, True, under the strong backing of parent company CP Group, brings telecom veteran Sigve Brekke to steer the company through its next competitive phase.

Battle for Telecom Supremacy Heats Up

According to reports, the NBTC is preparing to hold a new round of telecom spectrum auctions covering six frequency bands. This marks a critical turning point for both AIS and True as they push 5G to the next level and pave the way for advanced technologies. 

The NBTC will auction spectrum in the 850, 1500, 1800, 2100, 2300 MHz, and 26 GHz bands, totaling 43 licenses with a combined starting price of 121.026 billion baht.

This upcoming auction is about more than just frequency—it’s a battle for telecom leadership. Both AIS and True are gearing up with aggressive budgets and strategic plans. 

AIS, backed by Gulf Group, is moving forward into digital finance, data centres, and cloud services. On the other side, True is relying on the strong support of parent company CP Group, with seasoned telecom executive Sigve Brekke returning as board chairman and CEO to shape its next competitive move.

With less than two months remaining, the spectrum auction in mid-2025 is set to become a pivotal turning point for Thailand's telecommunications industry. The competition between AIS and True will determine who will dominate the 5G era, amid ongoing questions about transparency, fairness, and consumer protection that still require answers from regulatory bodies.

AIS Expands Its Business Plans

Somchai Lertsutthiwong, CEO of Advanced Info Service (AIS), stated that AIS is continuously strengthening its organization. The company currently provides telecommunications and digital services, covering mobile networks, 5G technology, fiber optic broadband, data networks, cloud services, and IoT for enterprise customers, along with entertainment services through digital platforms. AIS currently serves over 50 million customers.

AIS's core businesses include mobile phone services and high-speed internet. In the mobile sector, AIS's market share in revenue has increased from 48% in 2023 to 49% by the end of 2024. In the high-speed internet business, following the merger with 3BB, AIS became the market leader, holding a 45% revenue share.

Despite having only two main service providers, AIS has managed to maintain its market leadership, with reduced unreasonable competition in the increasingly free market environment.

Auction of Spectrum is an Opportunity – Prices Must Be Justifiable

Regarding the spectrum auction, Somchai stated that spectrum is a critical resource for the company's business operations. Each spectrum auction represents an opportunity to acquire additional frequency bands to create a competitive advantage and maintain market leadership. The company is confident that during the auction, it will carefully consider pricing to ensure it is reasonable and justifiable.

Expanding Into ‘Cloud and Data Center’ Services

In the past, AIS has been actively expanding into other industries beyond mobile services, particularly entering the IT sector with a focus on “Cloud and Data Centre” services. In terms of data centres, the investment is similar to a typical rental space. AIS has partnered with Gulf and Singtel under the name GSAData Centre. AIS brings strength in serving corporate clients in Thailand, Singtel adds strength in international operations crucial for hyperscalers, and Gulf excels in serving the public sector.

For cloud services, AIS does not sell cloud services in the typical reseller model. Instead, AIS has collaborated with Oracle to bring Oracle Cloud into Thailand. AIS is the official distributor for Oracle Cloud in Thailand. Additionally, AIS operates its own cloud business, CloudX, to sell cloud services directly to customers. Oracle Cloud is expected to begin service in Thailand by mid-year, which will contribute to growing revenues from expanded business lines, in addition to the data centre and cloud services.

Entering the Virtual Bank Arena

In response to questions during the latest shareholder meeting, Somchai commented that a virtual bank is one of the company’s digital services, not just limited to lending. With a large customer base, AIS has the opportunity to offer other products and services to customers, such as insurance and medical services. However, the final decision depends on approval from the Bank of Thailand (BoT).

For the virtual bank, AIS has partnered with Krungthai Bank (KTB) and PTT Oil and Retail Business (OR), forming a consortium of three companies.

“AIS started as a mobile operator, then we evolved to become a digital life service provider, delivering digital services and entertainment to customers. Over the past 3-4 years, AIS has established itself as a Cognitive Telco, an intelligent organization. Financial services present a new business opportunity that AIS believes has great potential because we have a strong infrastructure,” Somchai concluded.

Suphachai Appoints Sigve as CEO of True

A historic move in Thailand’s telecom industry has resurfaced into the spotlight — the merger of True and DTAC, which has now progressed for around two years. At the time, Sigve Brekke was still serving as Chairman of the Telenor Group and played a key role in finalizing the deal. Today, his name is once again making waves as Charoen Pokphand Group (CP Group) officially announced the appointment of Sigve as Executive Chairman of its Telecom and Digital Business Group, effective March 1, 2025.

Suphachai Chearavanont, CEO of CP Group, stated that bringing Sigve into this leadership role enhances the Group’s capabilities. He expressed confidence that with Sigve’s vision and global experience, CP can evolve into a world-class technology company that plays a pivotal role in driving Thailand into the digital economy. The focus, Suphachai emphasized, is on creating value across business, society, and the nation.

In his new role, Sigve will oversee CP Group’s investments in telecom, digital, and digital financial services. Suphachai further highlighted Sigve’s extensive experience in global digital and communication technologies, and his track record as a visionary leader capable of steering large organizations through innovation and forward-looking strategies. Sigve has played a significant role in advancing high-end technologies, leading global-scale projects, and forging cross-industry alliances that have propelled digital economies in various countries.

Sigve remarked that CP Group has earned a reputation as a regional leader in connectivity, infrastructure, digital innovation, and financial services for over 20 years. He said he was honoured by Suphachai’s invitation to help develop telecom and digital businesses in Thailand and Southeast Asia — a region brimming with growth potential, especially in an era where AI is becoming increasingly integral to consumers, businesses, and society.

“CP Group is deeply committed to building a future powered by digital technology. I believe that, with the resources available and the talent within the CP Group, we can transform Thailand into a leading digital hub in the region,” said Sigve.

Aiming to Propel True into a World-Class Tech Company

Most recently, on March 11, Suphachai officially announced the appointment of Sigve Brekke as Group CEO of True Corporation. In this expanded role, Sigve is now tasked with leading the company’s overarching strategic direction, driving True toward its goal of becoming a world-class technology company. This new organizational structure is expected to elevate the strength of the executive team to a truly global level.

All eyes are now on how Sigve’s return to Thailand’s telecom sector will unfold. The key question: Can he replicate his past success and once again reshape the industry? His challenge lies in taking on the long-standing market leader, AIS—a battle that promises to shake up the competitive landscape.

Virtual Bank Race Heats Up

The competition for “branchless commercial banks” or virtual banks is officially underway. Following the BoT call for license applications on March 20, 2024, the winners are expected to be announced by mid-2025. The first licensed operators are projected to launch services by mid-2026, after a year of system preparation and regulatory compliance.

According to the BoT, only up to three licenses are likely to be granted in this first round. While four major financial groups have expressed strong interest, the final count will depend on qualifications and criteria announced by the Ministry of Finance.

Key Contenders in the Race:

SCB X Public Company Limited – Backed by Chinese digital banking leader WeBank and South Korea’s KakaoBank.

Krungthai Bank–AIS–Gulf–OR Alliance – A powerhouse group seeing untapped potential in Thailand’s digital banking market.

Ascend Money – Operator of TrueMoney under CP Group, partnered with China’s fintech giant Ant Group, a subsidiary of Alibaba.

BTS Group Holdings – With its arm VGI Public Co., entering the fray alongside partners Bangkok Bank (BBL) and Thailand Post.

CP Group’s Ambitious Push

Tanyapong Thamavaranukupt, Co-CEO of Ascend Money, confirmed that the company has already applied for a virtual bank license. With over 34 million TrueMoney users, Ascend Money is uniquely positioned to fulfill the BoT’s vision: enhancing financial inclusion for underserved segments.

He emphasized that Ascend’s 8–9 years of experience delivering services like payments, lending, insurance, and investment through TrueMoney lays a solid foundation. The virtual bank, he said, will build on this success to further democratize access to financial services.

As the race for Thailand’s virtual banking future intensifies, all eyes are on which contenders will reshape the country’s financial ecosystem.