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Market Report, "Russia Consumer Electronics Report Q4 2012", Published

New Consumer Goods market report from Business Monitor International: "Russia Consumer Electronics Report Q4 2012"


Boston, MA -- (SBWIRE) -- 02/08/2013 -- BMI View: We project that Russian consumer electronics spending will grow by about 12% in US dollar terms in 2012, after Russian retailers such as and Euroset reported another year of strong growth in sales of consumer electronics devices in 2011. The Russian consumer electronics market is expected to increase at a double-digit compound annual growth rate over BMI's five-year forecast period, driven by the growing popularity of digital lifestyle products like digital TV sets, notebook PCs, digital cameras and portable audio devices. The planned roll-out of digital TV broadcasting to 95% of Russian citizens by 2015 and investment in 3G and 4G mobile communications infrastructure will boost spending. Meanwhile the market should receive a further boost following WTO entry, confirmed in August 2012, with import taxes of 5-15% expected to be lowered within three years.

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Headline Expenditure Projections

Computer Hardware Sales: US$10.4bn in 2011 to US$11.7bn in 2012, +8% in US dollar terms. Forecast in US dollar terms downwardly revised due to macroeconomic factors, but tablets should be a strong growth area in 2012.

AV Sales: US$7.6bn in 2011 to US$8.2bn in 2012, +8% in US dollar terms. Forecast in US dollar terms unchanged, with flat-screen TV set sales the main growth area.

Handset Sales: US$5.2bn in 2011 to US$6.1bn in 2012, +18% in US dollar terms. Forecast in US dollar terms downwardly revised, but sales of smartphones have been particularly strong and reversed a trend of declining handset prices.

Risk/Reward Rating

Russia's score was 52.1 out of 100.0, down slightly from the previous quarter. However, Russia moved up to second place in our latest Consumer Electronics Risk/Reward Ratings table from third, swapping places with the Czech Republic. Given its undoubted market growth potential, Russia is expected remain a priority market for vendors.

Key Trends & Developments

- The flat-screen TV set market still is far from saturated, particularly in remote areas. In the major cities of European Russia, rising incomes, new house builds and interest in luxury items will ensure growing demand for digital. The government has set a target for every Russian citizen to have access to at least 24 digital TV channels by 2015, with the amount of funding for digitalisation reportedly RUB76.3bn. Russia is expected to roll out digital services gradually, starting from Russia's Far East and South Siberian regions, followed eventually by all populated localities.

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