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Argentina Consumer Electronics Report Q4 2011
Business Monitor International, Sep 2011, Pages: 57
Argentina’s domestic consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected at US$5.3bn in 2011. The market picked up in 2010 following a sharp deceleration the previous year and spending is expected to grow at a CAGR of 8.3% to US$7.4bn by 2015, driven by demand for LCD TV sets, notebook computers, digital cameras and other key products, and also by rising incomes and greater credit availability.
Argentina's economy is poised for another strong year of growth in 2011 and BMI expects consumers will take advantage of rising incomes to increase spending, on consumer electronics. Real private consumption growth averaged 8.1% over the first nine months of 2010 and reached 19.1% y-o-y in November 2010, boosted by government stimulus measures and ongoing subsidies. Meanwhile, the tax on ‘luxury goods’ such as mobile phones and digital cameras introduced in December 2009 has boosted the share of local production in Argentine market sales of products ranging from notebooks to LCD TV sets. Handset imports fell 26% y-o-y in the first 10 months of 2010, and this development will prompt more vendors to consider expanding local production.
Computers Computer hardware accounted for about 46% of Argentine consumer electronics spending in 2010. BMI forecasts Argentine domestic market PC sales (including notebooks and accessories) of U$2.0bn in 2011. Computer hardware CAGR for the 2011-2015 period is forecast at about 14%, with PC penetration currently around 23%. The government has committed to procure 3mn notebooks for high school students over the next three years, but half the units must be manufactured locally.
AV devices accounted for about 45% of Argentine consumer electronics spending in 2010. Argentina’s domestic AV device market is projected at US$2.4bn in 2011.
Premium TV set sales were robust in 2010, and sales of LCD TV sets are projected to drive AV spending growth at a projected CAGR of 4.0% between 2011 and 2015. A US$2bn government plan for digital TV in the country will provide a boost to the market for TV sets and decoders.
Mobile Handsets Mobile handset sales accounted for about 9% of Argentine consumer electronics spending in 2010. Argentine market handset sales are expected to grow at a CAGR of 6.3% to US$596mn in 2015, as mobile subscriber penetration passes 130% in 2011. Argentina’s 3G market will be responsible for much of the mobile market’s growth, with subscribers already responding well to the new services on offer over 3G networks. Meanwhile, smartphones recorded tripledigit growth in 2010, driven by the consumer segment.
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