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Venezuela Consumer Electronics Report Q4 2009Published by: Business Monitor International Published: Oct. 14, 2009 - 38 Pages Table of Contents
AbstractVenezuela’s consumer electronics devices market is estimated at US$3.2bn in 2009. The country’sconsumer credit binge of the past five years has now ended, and BMI projects flat or negative growth insome consumer electronics product categories in 2009-2010.The short-term economic outlook is not encouraging, with the consumer-driven growth of recent yearscooling due to a collapse in oil prices, and high inflation. Currency controls have led to constraints onimports of handsets and other products, while at the same time the government has promoted subsidisedlocal production of computers and mobile phones. Computers Computer hardware accounted for around32% of Venezuela’s consumerelectronics spending in 2008, with PCpenetration only at around 12%. BMIforecasts computer sales (includingnotebooks and accessories) of US$847mnin 2009, with local production andincreased broadband penetration amongthe drivers. Computer hardwarecompound annual growth rate (CAGR)for the 2009-2013 period is projected tobe 6.6%, with a growing contributionfrom sales of locally produced desktopsand notebooks. AV Devices AV devices accounted for around 30% ofVenezuela’s consumer electronicsspending in 2008. Venezuela’s domesticAV device market is estimated atUS$966mn for 2009. With Venezuelapledged to select a digital broadcastingstandard in 2009, sales of digital TV setsare projected to drive AV spendinggrowth at a projected CAGR of 8.0%between 2009 and 2013. Mobile Handsets Mobile handset sales accounted foraround 38% of Venezuela’s consumerelectronics spending in 2008. Spending isexpected to grow at a CAGR of 3.9% toUS$1.4bn in 2013, with mobilesubscriber penetration passing 100% in2009. Sales will be dominated by thereplacement market, with locallyproducedhandsets taking an increasedshare. Get Full Details About This Report >> |
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