New Consumer Goods market report from Business Monitor International: "Philippines Consumer Electronics Report Q3 2013"
Boston, MA -- (SBWIRE) -- 06/07/2013 -- BMI expects the Philippines IT market will grow by around 7% in 2013. Despite an uncertain economic outlook, consumer electronics spending is likely to remain fairly strong in the coming quarters, with government spending providing a stimulus. The Philippines was one of the strongest regional TV markets in 2012 and the country's move to digital broadcasting should receive a boost from the government's selection of the Japanese ISDB-T standard. Given the Philippines' low PC penetration, many provincial markets are relatively untapped territories, while rural populations contain the largest number of potential first-time mobile handset purchasers. Vendors will seek profit from product innovation such as smartphones based on the Android operating system, and 3D and LED TV sets.
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Headline Expenditure Projections
Computer Sales: US$2.2bn in 2012 to US$2.4bn in 2013, +10% in US dollar terms. Forecast in US dollar terms unchanged following strong double-digit growth in 2012.
AV Sales: US$777mn in 2012 to US$848mn in 2013, 7% in US dollar terms. Forecast in US dollar terms is unchanged, with the main driver being demand for flat-panel TV sets.
Handset Sales: US$1.9bn in 2012 to US$2.0bn in 2013, +4% in US dollar terms. Forecast in US dollar terms unchanged with the Philippines seen as a high regional growth market for smartphones.
Risk/Reward Ratings: The Philippine's score is 47.9 out of 100.0. The country takes 11th place in our latest RRR table, but has potential to rise over time due to rising device penetration.
Key Trends & Developments
Demand from outside Manila will continue to drive market expansion. More vendors are signing up new distributors and opening stores nationwide. Cebu is seen as a gateway to provinces in Visayas and Mindanao. Meanwhile, PCs for schools programmes will be another driver for the Philippines computer market.
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