Turkey Consumer Electronics Report Q2 2016
BMI View: Turkey's consumer electronics market is estimated to have contracted by almost 10% in USdollar terms in 2015 as the lira depreciated sharply against the dollar, while deferred purchases due topolitical unrest were an additional drag. We forecast another year of contraction in 2016 as depreciationcontinues, with the impact of any global economic crises presenting additional downside due to Turkey'seconomic fragilities. In contrast to this challenging short-term outlook, we expect a return to growth from2017 as the lira stabilises, which should return the market to a growth trajectory based on rising incomesand vendors tapping low penetration rate opportunities. We forecast a CAGR of 1.0% over 2016-2020 toUSD13.04bn in 2020.
Latest Updates & Industry Developments
Computer Hardware Sales: Demand for PCs declined sharply in 2015 as device replacements andupgrades were deferred, and it will only be from 2018 that the PC market returns to growth. . BMIforecasts a 1.1% CAGR for computer hardware sales in USD terms over 2016-2020.
AV Sales: There has been a sustained period of contraction in AV sales due TV set price erosion anddigital camera and mp3 player demand cannibalisation - all in a climate of eroding household purchasingpower. The market is however expected to return to growth from 2017, with a CAGR of 1.5% forecastfor 2016-2020.
Handset Sales: The handset market has been the outperforming segment of the consumer electronicsmarket since the beginning of the smartphone boom in 2010-2011, but as a result of smartphone marketsaturation we expect growth to slow sharply. We forecast a CAGR of 0.8% 2016-2020 to USD6.6bn.
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