New Consumer Goods market report from Business Monitor International: "Russia Consumer Electronics Report Q1 2014"
Boston, MA -- (SBWIRE) -- 02/11/2014 -- Over the medium term the Russian consumer electronics market is expected to increase at a compound annual growth rate of 7.1%, driven by the growing popularity of digital lifestyle products like smartphones, digital TV sets, tablets, digital cameras and hybrids/ultra-thin notebooks. Although the preference for low cost Android tablets is a constraint on value growth in the PC market, unit growth remains robust. Meanwhile, the planned roll-out of digital TV broadcasting to 95% of Russian citizens by 2015 and investment in 3G and 4G mobile communications infrastructure will boost spending. The market should receive a further boost following WTO entry, confirmed in August 2012, with import taxes of 5-15% expected to be lowered within three years.
Headline Expenditure Projections
Computer Hardware Sales: US$10.4bn in 2012 to US$10.6bn in 2013, +3.1% in US dollar terms. There was a steep decline in desktop and notebook sales in 2013, but growth in tablet sales compensated in unit terms. However, with consumers opting for low cost Android tablets growth in market value is failing to keep pace with unit growth.
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AV Sales: US$8.2bn in 2012 to US$8.8bn in 2013, +6.7% in US dollar terms. Forecast in US dollar terms unchanged, with flat-screen TV set sales the main growth area but we believe next generation games consoles will provide a boost in 2014.
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