Boston, MA -- (SBWIRE) -- 04/10/2014 -- Domestic demand remains strong in Colombia and will continue to support growth in consumer electronics spending over the coming quarters. The burgeoning middle class and private sector credit growth will stimulate household consumption, and as incomes rise an increasing share of spending will go on consumer devices. This will allow vendors to tap into the relatively low penetration rates in key device categories such as PCs, smartphones and flat-panel TVs. Additionally, the government and telecoms operators are promoting the development of wireless and wireline data network infrastructure, which will add to demand for connected devices such as tablets, smartphones and smart TVs.
Headline Expenditure Projections
- Computer Hardware Sales: US$1.6bn in 2013 to US$1.8in 2014; +10.9% in US dollar terms. Tablets will be the outperforming device category again in 201, but with overall PC penetration still low we expect notebook sales will continue to grow.
- AV Sales: US$2.2bn in 2013 to US$2.3bn in 2014; +3.2% in US dollar terms. Flat-panel and Smart TV sets the main growth area as consumers upgrade their old models, but we expect growth to plateau with next generation OLED and 4K TVs far out of reach of mass market consumers.
- Handset Sales: US$1.3bn in 2013 to US$1.4bn in 2014; +4.8% in US dollar terms. As smartphones increase as a share of the overall handset sales mix we expect market value growth will outpace unit growth.
View Full Report Details and Table of Contents
Key Trends And Developments
The smartphone and tablet markets are the outperforming device categories in the consumer electronics market in Colombia. The widening availability of low-and-mid range Android devices is deepening the market, driving strong unit growth as they become mass market consumer products. The boom in sales is positive for market leader Samsung, as well as emerging Android partner vendors such as Huawei and Lenovo. However, former market leaders such as Nokia, Apple and Blackberry will face a continued squeeze on volumes over the medium term.
The tablet and smartphone markets will be boosted by the government's Vive Digital programme, which offers a pledge to eliminate import tariffs on connectivity devices and to take measures to enhance credit availability for such devices. Incentives under the Vive Digital plan included a VAT exemption programme for low-income households looking to obtain an internet connection.
About Fast Market Research
Fast Market Research is a leading 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 is always available to 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:
- Colombia Consumer Electronics Report Q1 2014
- Mexico Consumer Electronics Report Q2 2014
- Thailand Consumer Electronics Report Q2 2014
- Venezuela Consumer Electronics Report Q2 2014
- South Africa Consumer Electronics Report Q2 2014
- Bahrain Consumer Electronics Report Q2 2014
- Israel Consumer Electronics Report Q2 2014
- Chile Consumer Electronics Report Q2 2014
- Bulgaria Consumer Electronics Report Q2 2014
- Peru Consumer Electronics Report Q2 2014