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South Korea Consumer Electronics Report Q1 2012
Business Monitor International, Dec 2011, Pages: 55
South Korea’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$13.3bn in 2012. This is expected to increase to US$15.8bn by 2016, at a compound annual growth rate (CAGR) of 3.7% – slower than in the preceding five years.
Smartphones and smartphone/tablet hybrids, based on the Android operating system, are expected to be a growth area in 2012, following strong sales of Samsung’s Galaxy S2 smartphone in the South Korean market. Meanwhile, new technologies such as 3D TV and internet-enabled TV will help to stimulate demand in the AV segment. The rollout of digital TV broadcasting ahead of analogue switch-off in 2013 will help support sales of premium TV sets.
Computers
Computers accounted for around 34% of South Korean consumer electronics spending in 2010. BMI forecasts South Korean PC sales of US$4.0bn in 2012.
The CAGR for the 2012-2016 period will be around 3%, but there will be growth areas in multimedia and entertainment notebooks. The PC segment’s return to positive growth has been driven by stronger notebook sales. The emergence of tablets has created a new battleground for foreign vendors to compete with domestic leaders such as Samsung and LG.
AV
Video, audio and gaming devices accounted for around 20% of South Korean consumer electronics spending in 2011. South Korea’s domestic video, audio and gaming device market is projected at US$2.6bn in 2012. Video applications will account for around 60% of demand during the 2012-2016 forecast period, with growth areas linked to new technologies such as ‘smart TVs’, LED TV sets, 3D TV and Blu-ray.
Mobile Handsets
South Korean market mobile handset and handset device sales accounted for around 46% of South Korean consumer electronics spending in 2011. Total South Korean market handset sales are expected to grow to nearly 30mn units in 2016, with the market driven mainly by replacements as penetration has passed 100%. With mobile market leader SK Telecom planning 30 new smartphone launches in 2011, the smartphone segment should blossom, as operators introduce more flexible data plans for subscribers.
Business Monitor International's South Korea Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on South Korea's consumer electronics industry.
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