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Hong Kong Consumer Electronics Report Q4 2010
Business Monitor International, Aug 2010, Pages: 46
The 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$4.5 by 2014, at a compound annual growth rate (CAGR) of 4.4%, with growth driven by products such as smartphones, touch-screen handsets, netbooks as well as LED and 3D TV sets. Vendors expect continued growth in the Hong Kong consumer electronics market in 2010, with digital cameras and unofficially imported Apple iPads among items selling well. However, BMI warns that Hong Kong consumers face the headwinds of a property market that is likely to decline and an equity market that appears to have peaked.
Computers
Computers accounted for around 54% of Hong Kong consumer electronics spending in 2009. BMI forecasts 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 5.5%. Apple’s iPad saw strong sales after the first unofficial units became available in Hong Kong electronics outlets in April 2010. 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 3D TV, 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$455mn in 2014, with the market driven mainly by replacements as penetration is already close to 180% as of 2009. 3G mobile subscribers are estimated to account for around 35% of the total mobile subscriber base. Meanwhile, the smartphone segment grew by around 20% in 2009 and is forecast to increase three to four times faster than the market as a whole.
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