Bulgaria Consumer Electronics Q2 2019
The outlook for Bulgarian consumer electronics device spending has been revised in our Q219 update, with vendors setto benefit from a stronger purchasing power growth trend over 2019-2023. First-time buyer opportunities in major urban areas willdecrease, but there remains a significant pool of new buyers in lower-income regions where device penetration and uptake ratesare low. Low to mid-range smartphones will continue to cannibalise personal computers and the market is set to remain pricesensitive in its nature over the next five years. Lev appreciation forecast by our Country Risk team will boost device affordability andcreate new higher value opportunities, helping to offset the drag from demographics and approaching saturation. The keydownside risk is the possibility that a deterioration in regional economic performance could filter through to the Bulgarian economicoutlook.
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