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Philippines Consumer Electronics Report Q4 2010
Business Monitor International, Aug 2010, Pages: 50
Business Monitor International's Philippines Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Philippines' consumer electronics industry.
BMI projects that the Philippines’ consumer electronics market will grow at a compound annual growth rate (CAGR) of 9% to US$5.5bn by 2014, driven by rising household penetration of PCs and LCD TV sets. The market is forecast to grow slightly from 2009 to be worth around US$3.8bn in 2010, with more growth coming from areas outside Metro Manila.
Demand in most product categories is expected to strengthen in H210, in line with BMI’s prediction of a V-shaped economic recovery. However, a weak global economy and slowdown in remittances are among factors likely to continue to affect sales of some products. Growth in product categories such as LCD TV sets will help to prevent stagnation, while more than 1mn smartphones were sold in the Philippines in 2009.
Computers accounted for around 42% of Philippine consumer electronics spending in 2009. BMI forecasts Philippine domestic market computer hardware sales (including notebooks and accessories) of US$1.6bn in 2010, up from US$1.5bn in 2009. Computer hardware CAGR for the 2010-2014 period is forecast at about 12%, with much growth coming from increasing PC penetration, which is less than 10% currently. In July 2009, the government launched a new low-cost PC initiative.
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