Boston, MA -- (SBWIRE) -- 03/19/2014 -- Argentina's domestic consumer electronics devices market, for mobile handsets and AV products, is projected at US$5.7bn in 2013 by BMI. The market has recovered since a sharp deceleration in 2009 and spending is expected to grow at a CAGR of 6.6% to US$7.1bn by 2017, driven by demand for flat-panel TV sets, notebook computers, digital cameras and other key products, and also by rising incomes and greater credit availability. Spending will be constrained by an uncertain economic outlook and our data show prices rising faster than shopping centre sales, with consumers cautious due to an uptick in unemployment. We still expect sales of mobile handsets, plasma TV sets, digital cameras and other categories of consumer electronics products to grow in 2013, as monetary and fiscal policies remain highly expansionary. BMI has warned of the risk of a substantial currency devaluation, which would have an impact on the affordability of IT products and services. Although local PC, TV and mobile phone production in Tierra del Fuego state has expanded rapidly, most of the imports used for assembly are still imported. The tax on 'luxury goods' such as mobile phones and digital cameras has dramatically boosted the sales share of locally produced goods, while sales of imported consumer electronics devices have fallen sharply.
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