New Consumer Goods market report from Business Monitor International: "India Consumer Electronics Report Q1 2014"
Boston, MA -- (SBWIRE) -- 01/27/2014 -- BMI projects that Indian consumer electronics spending will grow by about 17% in US dollar terms in 2013 to US$37.5bn, fuelled by rising incomes, growing affordability, and the fact that 45% of India's population is under 25. PC market growth is currently being driven by laptops and by tablets, albeit sales of the latter are growing from a very small base. Meanwhile, sales of smartphones - including Apple's iPhone - are finally beginning to take off. Spending on consumer electronics devices is projected to grow at an overall CAGR of 14% through to the end of our five-year forecast to 2017, with the key segments including low-cost mobile handsets, colour TV sets, set-top boxes and notebook computers. Much of the growth during our forecast period will be driven by growing demand from India's underpenetrated rural areas. However, there are concerns a new import tax on handsets priced at above 2,000 rupees could constrain demand in this key product category.
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