Market Report, "Bahrain Consumer Electronics Report Q1 2013", published
Boston, MA -- (SBWIRE) -- 02/16/2013 -- BMI View: The Bahrain IT market will grow by around 7% in 2013, despite the recent political unrest on the streets of Manama. BMI expects Bahraini consumption of digital lifestyle products such as smartphones and smart TV sets to hold up relatively well in 2013, particularly following recent hikes to public sector salaries. The 15% wage increase for all civil servants in August 2012 certainly helped in this regard, as will the ongoing rise in total employment in the private sector. Household spending in Bahrain was forecast to tick higher in 2012 and despite remaining economic uncertainties, increased demand for mobility and lower prices, as well as greater vendor and channel sales flexibility will drive demand, along with a resumption of low single-digit population growth. Demand for new technologies such LED and 3D TV sets and 3G phones and smartphones will also provide growth opportunities.
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Headline Expenditure Projections
Computer hardware sales: US$220mn in 2012 to US$234mn in 2013. Forecast in US dollar terms upwardly revised due to macroeconomic factors and the release of Windows 8 should provide a boost to replacement PC purchases.
AV sales: US$349mn in 2012 to US$374mn in 2013. Forecast in US dollar terms unchanged, with the main driver being demand for flat-screen TV sets.
Handset sales: US$79mn in 2012 to US$86mn in 2013, +8% in US dollar terms. Forecast in US dollar terms downwardly revised due to analyst modification, but demand for smartphones will continue to expand.
Risk/Rewards Rating: Bahrain's score was 51.1 out of 100.0, with a lower Country Risk score constraining its overall rating. Bahrain took 7th place in our latest RRR table, but provided that the political situation stabilises, the country should continue to be a lucrative market for consumer electronics devices over the forecast period.
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