2014-02-07 21:45:05 - Colombia Consumer Electronics Report Q1 2014 - a new market research report on companiesandmarkets.com
BMI calculates Colombian consumer electronics spending grew by about 12% in US dollar terms in 2012 to US$4.9bn. Domestic demand for consumer electronics devices remains relatively strong in Colombia and will continue to support consumer electronics spending over the coming quarters. The burgeoning middle class and private sector credit growth will therefore continue to stimulate household consumption. Falling unemployment should help to drive demand for consumer electronics goods, such as tablets and smartphones. We believe Colombia´s economy will expand at robust growth rates in the coming years, characterised by improved macroeconomic conditions and an increasingly friendly business environment. The auction of 4G spectrum should boost smartphone sales in 2014, as well as the requirement that companies distribute 500,000 tablets as
part of the obligations for the frequencies. Drivers will include rising PC and mobile phone penetration, the launch of digital TV broadcasting and 3G mobile network roll-outs. The development of a modern retail sector will also encourage growth over our five-year forecast period to 2017.
Headline Expenditure Projections:
- Computer Hardware Sales: US$1.5bn in 2012 to US$1.6in 2013; +8% in US dollar terms. Forecast in US dollar terms unchanged amid signs that consumer credit growth is bottoming out. Tablets are expected to be a growth area in 2013, amid overall slower growth in Colombian PC market, with strong uptake of the devices reported in 2012.
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