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Chile Consumer Electronics Report Q3 2012
Business Monitor International, June 2012, Pages: 52
The Chile Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Chile's consumer electronics industry..
Chilean sales of consumer electronics devices are forecast to grow 10% in 2012, with many of the trends that drove consumer electronics spending in 2011 expected to continue in 2012. Private consumption growth will likely moderate in the coming quarters as the central bank's monetary tightening cycle feeds through the domestic economy. However, banks are increasingly willing to extend credit and the unemployment rate is ticking downwards, contributing to our overall growth outlook for spending on consumer electronics devices such as PCs, flat-screen TV sets and smartphones. The fundamentals of low household penetration of many digital devices, plus growing affordability, should keep the consumer electronics market on an upward trajectory
Headline Expenditure Projections Computer sales: US$1.4bn in 2011 to US$1.5bn in 2012, +13.0% in US dollar terms. Forecast in US dollar terms unchanged due to stronger than expected retail sales growth in H211.
AV sales: US$1.3bn in 2011 to US$1.4bn in 2012, +8% in US dollar terms. Forecast in US dollar terms unchanged, with flat-screen TV sets expected to provide the most dynamic development. Handset sales: US$341mn in 2011 to US$365mn in 2012, +7% in US dollar terms. Forecast in US dollar terms unchanged, with smartphones the main revenue growth driver.
Risk/Reward Ratings: Chile’s score was 53.7 out of 100.0, with solid country structure and CE market scores resulting in it gaining fourth place in our Americas CE RRR table. BMI expects rising penetration of consumer electronics devices such as smartphones and flat-screen TV sets. Key Trends & Developments
- PC unit sales growth is now expected to be more moderate compared to that reported in 2011, when sales were estimated at around 2.3mn. Despite the expected deceleration, vendors are still forecasting double-digit growth in 2012. In H111, shipments of laptops were up by around 30%, according to figures from local IT association ACTI, reaching 867,000 units, from 662,000 in the same period of 2010.
- In 2012 there should be solid growth in the Chilean AV device market. Government social programmes and rising household incomes are expected to fuel demand for consumer durables such as TV sets. The approval by Chile’s lower house of parliament in 2011 of a digital TV bill, has boosted the country’s migration to digital broadcasting.
- There should be increasing take-up of smartphones in the consumer segment as there is a greater range of devices available at prices that more and more subscribers can afford. Vendors reported strong growth in smartphone sales in 2011, despite the emergence of tablets as a rival connectivity device. Chilean operators have taken an active role in trying to grow this market.
Executive Summary 4
SWOT Analysis 6
Chile Consumer Electronics Market SWOT 6
Chile Political SWOT 7
Chile Economic SWOT 8
Chile Business Environment SWOT 9
Risk/Reward Ratings 10
Latin America Risk/Reward Ratings, Q312 12
Consumer Electronics Market 13
Table: PC Sales 14
Table: AV Sales, 2008-2016 18
Mobile Handsets 21
Table: Mobile Communications 21
Consumer Electronics Industry 26
Industry Forecast Scenario 30
Consumer Electronics Market 30
Table: Consumer Electronics Overview 31
Industry Developments 33
Macroeconomic Forecast 36
Chile – Economic Activity 40
Competitive Landscape 41
Demographic Outlook 46
Chile's Population By Age Group, 1990-2020 ('000) 47
Chile's Population By Age Group, 1990-2020 (% of total) 48
Chile's Key Population Ratios, 1990-2020 49
Chile's Rural And Urban Population, 1990-2020 49
BMI Methodology 50
How We Generate Our Industry Forecasts 50
Electronics Industry 51