Fast Market Research recommends "Hungary Consumer Electronics Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/11/2013 -- The Hungarian consumer electronics market is in no position to enjoy a recovery in 2013, with overall demand expected to be flat in US dollar terms%, although there should be a few growth areas such as tablets, ultrabooks and smartphones. The Hungarian consumer faces yet another tough year, as fiscal austerity, tighter credit conditions, weakening confidence, a still-large overhang of debt and elevated unemployment levels all pose major challenges to households. However, the consumer electronics market still has considerable latent growth potential. Home computer penetration remains low compared with peer group countries for example - only slightly higher than Romania and Bulgaria - while internet penetration is also relatively low as a percentage of households.
Headline Expenditure Projections
- Computer Hardware Sales: US$1.2bn in 2012 and remains US$1.2bn in 2013, with flat growth in US dollar terms. Forecast in US dollar terms downwardly revised due to macroeconomic factors, but faster growth expected after 2013 and Windows 8 and 4G/LTE mobile service rollouts could provide a boost to sales of tablets, ultrabooks and notebooks.
- AV Sales: US$789mn in 2012 to US$816mn in 2013, +3% in US dollar terms. Forecast in US dollar terms downwardly revised due to macroeconomic factors, but growing penetration of digital TV is driving demand for flat-screen TV sets.
- Handset Sales: US$300mn in 2012 to US$315mn in 2012, +5% in US dollar terms. Forecast in US dollar terms unchanged, but operator promotions are driving sales of smartphones.
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Risk/Reward Rating: Hungary's score was 45.5 out of 100.0. Hungary took 5th place in our latest RRR table, behind the Czech Republic and Poland, but still ahead of emerging markets Bulgaria, Serbia and Croatia.
Key Trends & Developments
Telecoms operators have reported solid growth in mobile broadband subscriptions and this trend should help to support sales of mobile connectivity devices such as tablets and notebooks, which are bundled with service contracts. Credit is still tight throughout the economy however, and should the forint depreciate significantly further, consumers would be subject to considerable pressure, which in turn would depress spending.
While about 99% of Hungarian households have TV sets, there is a trend for multiple sets, with half of households having at least two sets. Flat-screen TV sets will be the main driver of AV category sales growth over the forecast period as consumers upgrade and trade their old models for digital. The market for analogue TV sets has collapsed dramatically over the last few years, coinciding with the economic crisis. Meanwhile the number of digital television subscriptions in Hungary is steadily increasing and rose to 712,000 in February 2012, according to official data.
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