Recently released market study: Taiwan Consumer Electronics Report Q3 2013

We expect Taiwan's consumer electronics market will grow by around 8% in 2013, with growth areas including large-screen, Ultra-HD and OLED TV sets and 4G smartphones. In 2013, a China-led slowdown could affect the Taiwan dollar and constrain domestic discretionary spending. The key concern facing private consumption growth stems from the slowdown in the tech sector, which accounts for over 30% of the labour force.

Demand for certain high-end product categories including smartphones and 3D TV sets should help to drive growth. Smartphones accounted for above 70% of handset shipments in 2012, while expanding broadband penetration is driving sales of devices from tablets to digital TV sets.

Full Report Details at
- http://www.fastmr.com/prod/648402_taiwan_consumer_electronics_report_q3_2013.aspx?afid=301

Headline Expenditure Projections

Computer sales: US$5.1bn in 2012 to US$5.5bn in 2013, +8% in US dollar terms. Forecast in US dollar terms unchanged but Windows 8 tablets and ultrabooks are expected to be growth areas in 2013. AV sales: US$1.6bn in 2012 to US$1.7bn in 2013, +6% in US dollar terms. Forecast in US dollar terms unchanged, with the main AV driver being production innovation such as Smart and 3D flat-screen TV sets.

Handset sales: US$1.8bn in 2012 to US$2.0bn in 2013, +9% in US dollar terms. Forecast in US dollar terms unchanged after continued strong growth in smartphone sales.

Risk/Reward Rating

Taiwan's score was 60.7 out of 100.0, with high Country Risk and Market Risk scores compensating for a relatively small market size. Taiwan is in sixth place in our latest Asia CE RRR table, ranking behind Hong Kong and Singapore, but ahead of regional tech peers South Korea and Malaysia.

Key Trends & Developments

* Local TV vendors reported increased flat-panel TV sales in 2012, boosted by the Taiwanese government's programme of subsidies for a range of energy-saving home appliances, including LCD TVs. The subsidy of TWD2,000 (about US$60) was available for LCD TV sets with screen sizes of 32 inches or above. Vendors responded by launching aggressive promotions models that were eligible for the subsidies.
* Demand for digital cameras fell sharply in 2012, due in part to the increasing sophistication of smartphone cameras, although there were growth camera segments such as DSLR. In Q113, handset sales grew sequentially, but were slightly down year-on-year. Another growth category in 2013 is expected to be Wi-Fi enabled cameras, which allow users to directly upload their photos and videos to social media sites such as Facebook or YouTube. Smartphone users' average revenue per unit (ARPU) is nearly two times the level of non-smartphone users, providing a strong incentive for Taiwanese operators to migrate their installed user bases to smartphones. Taiwan Mobile and Chungwha Telecom have forecast that smartphones will account for 85-90% of their handset sales by end-2013.

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