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Hong Kong Consumer Electronics Report Q3 2010
Business Monitor International, May 2010, Pages: 43
Hong Kong Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hong Kong's consumer electronics industry.
Hong Kong’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected to be worth around US$3.8bn in 2010. This is expected to increase to US$4.5n by 2014, at a compound annual growth rate (CAGR) of 4.3%, with growth driven by products such as smartphones, touchscreen handsets, netbooks as well as LED and 3DTV sets. Vendors expect growth in the Hong Kong consumer electronics market in 2010. Sales were strong during the Easter 2010 holiday weekend, with digital cameras, and unofficially imported iPADs among items selling well. In 2009, consumers retrenched due to concerns about rising unemployment and a negative wealth effect from the slump in asset prices.
Computers
Computers accounted for around 55% of Hong Kong consumer electronics spending in 2009. The authors forecast Hong Kong computer hardware sales of US$2.1bn in 2010, with mid-single-digit growth. CAGR for the 2010- 2014 period will be around 5.3%. Wireless networking will be an important driver of computer – and especially notebook – sales, with increasing demand for connectivity.
AV
AV demand is expected to grow at a CAGR of 3% between 2010 and 2014, to a value of US$1.5bn in that year. Video applications account for the largest share of the market, with growth areas including 3DTV, LED TV sets and Bluray DVD players.
Mobile Handsets
Hong Kong market handset sales are expected to grow at a CAGR of about 2.7% to US$453mn in 2014, with the market driven mainly by replacements as penetration is already above 172%. 3G handset sales are forecast to grow at a 10.2% CAGR as 3G subscribers reach 6.1mn by 2014. Meanwhile, the smartphones segment is forecast to grow three to four times as fast as the market as a whole.
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