Chile Consumer Electronics Report Q1 2013

Business Monitor International
January 2, 2013
51 Pages - SKU: BMI4936190
Countries covered: Chile

Chilean sales of consumer electronics devices are forecast to grow 8% in 2013, with many of the trendsthat drove consumer electronics spending in H212 expected to continue in 2013. In H112, sales ofhandsets and TV sets dipped into the low single-digit range, but there were stronger growth areas such assmartphones. As wage growth continues to outpace inflation, we expect consumer spending to remainbuoyant. Banks are increasingly willing to extend credit and the unemployment rate rremains low,contributing to our overall growth outlook for spending on consumer electronics devices such as PCs,flat-screen TV sets and smartphones A significant slowdown in external demand could have an effect onhousehold spending, but the fundamentals of low household penetration of many digital devices, plusgrowing affordability, should keep the consumer electronics market on an upward trajectory

Headline Expenditure Projections

Computer sales: US$1.6bn in 2012 to US$1.8bn in 2013, +8% in US dollar terms. Forecast in USdollar terms downwardly revised following a slowdown in PC sales in H112.

AV sales: US$1.4bn in 2012 to US$1.5bn in 2013, +7% in US dollar terms. Forecast in US dollar termsdownwardly revised, with flat-screen TV sets expected to provide the most dynamic development.Handset sales: US$376mn in 2012 to US$414mn in 2013, +10% in US dollar terms. Forecast in USdollar terms upwardly revised, with smartphones the main revenue growth driver.

Risk/Reward Ratings:

Chile's score was 52.6 out of 100.0. BMI expects rising penetration of consumer electronics devices suchas smartphones and flat-screen TV sets.

Key Trends & Developments

The main long-term drivers of growth in the PC segment are lower prices and greateraffordability. Vendors will focus increasingly on lower income groups and tier-2 cities, wherethe fastest growth opportunities exist. This has necessitated developing relationships with adistinct group of retailers which have a strong footprint in this market.

In 2013 there should be solid growth in the Chilean AV device market. Government socialprogrammes and rising household incomes are expected to fuel demand for consumerdurables such as TV sets. The approval by Chile's upper house of parliament of a digital TVbill, would boost the country's migration to digital broadcasting.

There should be increasing take-up of smartphones in the consumer segment as there is agreater range of devices available at prices that more and more subscribers can afford.Vendors reported strong growth in smartphone sales in 2012, despite competition fromtablets as a rival connectivity device. Chilean operators have taken an active role in trying togrow this market.



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