Boston, MA -- (SBWIRE) -- 02/06/2013 -- Peruvian sales of consumer electronics devices are forecast to grow 14% in 2013, with many of the trends that drove consumer electronics spending in 2012 continuing to be factors, despite an expected moderation in consumer spending. BMI believes that the Peruvian market has robust growth potential, particularly following the long-awaited ratification of the US-Peru Free Trade Agreement (FTA) in December 2011.

We expect spending on electronic lifestyle products such as flat-screen TV sets and smartphones to continue to rise over the coming years as wealth levels rise and the availability of credit improves across Peru. In the long term, we expect Peruvian households to become increasingly affluent. Household spending remained buoyant during H112 on the back of relatively strong private sector credit growth, money supply growth and currency strength. However, we do expect private consumption to slow somewhat, as money supply growth plateaus and credit growth moderates as well. Government-backed affordable computer programmes comprise an important market component. The implementation of digital TV broadcasting will drive demand for flat-screen TV sets. More competition in the mobile telecoms sector and expansion in rural areas should boost the mobile handset segment.

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Headline Expenditure Projections

Computer hardware sales: US$837mn in 2012 to US$988mn in 2013, +12.0% in US dollar terms. Forecast in US dollar terms upwardly revised due to analyst modification following stronger than expected tablet sales in 2012.

AV sales: US$912mn in 2012 to US$998mn in 2013, +9% in US dollar terms. Forecast in US dollar terms upwardly revised, with flat-screen TV sets expected to provide the most dynamic development.

Handset sales: US$559mn in 2012 to US$638mn in 2013, +14% in US dollar terms. Forecast in US dollar terms upwardly revised with smartphones the main driver, after imports more than doubled in H112.

Risk/Reward Ratings: Peru's score was 45.3 out of 100.0 with an industry rewards score of 36.7 being the lowest among its peer group. Peru is ahead of Argentina and Venezuela in our ratings. BMI expects rising penetration of consumer electronics devices such as smartphones and flat-screen TV sets.

Key Trends & Developments

- In 2012, telecoms company Nextel Chile launched 3G voice and data services in the country, following the launch of a mobile broadband pilot programme in October 2011. The increased competition should drive faster uptake of 3G services and boost 3G handset sales. Meanwhile, smartphone sales increased by more than 100% in
- In 2013, Peru's household PC segment will remain the main PC market driver, as Peruvian consumers become increasingly affluent, and forecast lower unemployment helps confidence. Peru's Free Trade Agreement with the US has reduced tariffs by up to 80% and is continuing to fuel IT investments.

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