2012-09-14 14:48:21 -
Chinese home cinema market to increase at a CAGR of 2%
The Chinese home cinema market is expected to register a lower single-digit retail volume compound annual growth rate (CAGR) of 2% through to 2016, having suffered weak performance in 2011.Compared with products such as televisions, home cinema products are perceived more as luxuries rather than basic necessities, thus the consumer base tends to be more limited, particularly to those higher-income households keen on sound quality.In terms of product perception, Chinese consumers continued to regard home audio and cinema products as less essential compared with items such as televisions. Therefore, manufacturers were less motivated to invest in product innovation in the home audio and cinema environment. A relatively small consumer base as well as a lack of appealing new products all
contributed to the poor retail performance of home audio and cinema products in 2011.The top five players, Philips, CAV, Samsung, Panasonic and LG, continued to lead retail volume sales of the Chinese home audio and cinema market in 2011. Of these top five players four were multinationals, with CAV the only domestic player ranking among the top five in 2011. LG surpassed Panasonic to rank fourth in 2011, while the latter lost one percentage point in volume share due to a lack of new product developments.Philips China Co Ltd witnessed further retail volume share gains, increasing by two percentage points from 17% in 2010 to 19% in 2011, remaining in first place in the home audio and cinema environment. Good brand reputation as well as abundant new product launches contributed to the company´s further growth in 2011. In addition, Philips remained the major player of digital media player docks for iPod and iPhone, which further helped the company gain share in home audio and cinema over 2010-2011.For more information on the Chinese home cinema market, see the latest research: Chinese Home Cinema Market ReportFollow us on Twitter @CandMResearch
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