Russia Consumer Electronics Q4 2018
There was a strong rebound in device demand in Russia in 2017 that extended into 2018 as the economy came out ofrecession and purchasing power was boosted by rouble appreciation against the US dollar. This strong momentum, however, isexpected to fade 2019-2022 as the device market dynamic subdues in an environment of weak purchasing power growth and withnegative demographic trends. There is also downside risk due to geopolitical tensions and the potential for weaker economicperformance if the oil price were to again move lower.
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