New Consumer Goods market report from Business Monitor International: "Hong Kong Consumer Electronics Report Q2 2013"
Boston, MA -- (SBWIRE) -- 06/03/2013 -- BMI projects that Hong Kong consumer electronics spending grew by about 6% in US dollar terms in 2013 to US$4.8bn, but a moderation in consumer demand is expected. Vendors anticipate bright spots such as HD TV sets, low-cost Ultrabooks and 4G smartphones, but a wealth effect from any cooling in property prices and an equity market that appears to have peaked could have an impact on consumer spending. BMI expects consumer electronics to outperform general retail sales, and the release of Windows 8 will provide a boost to the PC market. However, demand has been muted by slowing inbound tourism as well as poor domestic consumer sentiment. Product innovation will continue to drive growth in the AV segment, while demand will continue to be spurred by the influx of mainland tourists.
Headline Expenditure Projections
View Full Report Details and Table of Contents
Computer hardware sales: US$2.5bn in 2012 to US$2.6bn in 2013, up 7%, and upwardly revised due to growth areas that include demand for tablets and ultrabooks.
AV sales: US$1.4bn in 2012 to US$1.5bn in 2013, up 4%, with TV sets expected to provide the most dynamic development.
Handset sales: US$554mn in 2012 to US$605mn in 2013, up 9%, with smartphones the main revenue growth driver.
Key Trends & Developments
- Hong Kong retailers are optimistic that product releases such as lower-priced ultrabooks and the 'new iPad' will keep sales of mobile computers at a high level in 2013. Tablets, originally seen as primarily a consumer device, are forecast to experience increasing take-up in the business segment. The categories of tablet and smartphone are blurring, as demonstrated by the emergence of hybrid "phablet" devices. Meanwhile, we are also looking to affordable ultrabooks as a new growth area. - - A combination of new technologies such as 3D, Ultra-HD, OLED and internet-enabled TV, and more competitive pricing, should help to support AV demand. To maintain or increase sales volumes, vendors will focus on product innovation, with drivers including improved display quality and wider screens, as well as design and features such as wireless technology. - - Sales of smartphones are expected to grow three to four times faster than the overall handset market over BMI's five-year forecast period, with smartphones accounting for above 50% of Hong Kong's market revenue for leading vendors, above global and regional averages. As operators roll out discounted data plans, and manufacturers release cheaper models, the prices of smartphones are becoming more affordable.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Taiwan Consumer Electronics Report Q2 2013
- Australia Consumer Electronics Report Q2 2013
- Argentina Consumer Electronics Report Q2 2013
- Malaysia Consumer Electronics Report Q2 2013
- Chile Consumer Electronics Report Q2 2013
- Indonesia Consumer Electronics Report Q2 2013
- Turkey Consumer Electronics Report Q3 2013
- Bulgaria Consumer Electronics Report Q3 2013
- China Consumer Electronics Report Q2 2013
- Thailand Consumer Electronics Report Q2 2013