Hong Kong Consumer Electronics Report Q4 2014 - New Market Report

High incomes and a tech literate population combine to ensure demand for the latest devices remains strong in Hong Kong , helping to compensate for the diminished first time buyer opportunities in all three segments as a result of high penetration rates . S pending growth on consumer electronics devices slowed in 2012 and 2013 due to a combination of a weaker economic environment, price erosion and high penetration of devices in key markets , but t he outlook for 2014 is stronger . W e expect growth to accelerate as high consumer confidence and short replacement cycles in key product categories such as smartphones and tablets will ensure spending growth remains positive over the medium term. There is, however, downside risk to this outlook from a hard-landing in China, or from the negative wealth effect of any cooling in property prices that would hit consumer confidence.

Headline Expenditure Projections

Computer Hardware Sales: USD1.63bn in 2013 to USD1.71bn in 2014, up 5.1%. Tablets will again be the largest segment, but in terms of contribution to market value growth it is traditional form factors we expect to outperform.

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AV Sales: USD1.33bn in 2013 to USD1.4bn in 2014, up 4.8%. After a contraction in 2013 due to digital camera and mp3 unit cannibalisation by smartphones, as well as price erosion in the TV market, we expect a return to growth in 2014 as the camera and mp3 markets stabilise and the FIFA World Cup boosts TV volumes.

Handset Sales: USD2.44bn in 2013 to USD2.63bn in 2014, up 7.8% as upgrades from 2G/featurephones and replacement of high-end smartphones ensure the smartphone market grows rapidly in 2014, but growth will decelerate markedly over the rest of our forecast.

Key Trends & Developments

* After the initial smartphone boom in which Apple and Samsung Electronics were the clear winners the market is evolving and BMI highlights slowing volume growth alongside increased competition from Chinese...

The Hong Kong Consumer Electronics Report has been researched at source and features latest-available data covering both the manufacture and sale of consumer electronics products, critically analysing - and forecasting - the market dynamics affecting each sub-sector, including audio-visual, computers, mobile handsets, gaming and automotives electronics. Furthermore, the report analyses the domestic and global economic trends driving device demand and provides company rankings and competitive landscapes covering leading multinational and national consumer electronics companies and analysis of latest industry news and trends in Hong Kong.

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