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Just Released: "South Korea Consumer Electronics Report Q1 2014"

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2014-01-26 17:32:44 - Recently published research from Business Monitor International, "South Korea Consumer Electronics Report Q1 2014", is now available at Fast Market Research

Although the South Korean consumer electronics is mature, meaning growth rates will be below those of emerging markets, we have a positive medium term outlook and forecast spending will grow by about 5.4% in US dollar terms during 2013 to $US13.7bn, from US$13.0bn in 2012. In the short term, high household debt levels will be a constraint on consumer spending and high penetration rates mean there are limited first-time buyer opportunities. However, consumer appetite for innovative products means we have a bright medium-term outlook. New models of smartphones offering LTE, or the popular phablet category, are expected to fare well, while tablets, convertibles/hybrids and emerging technologies such as OLED and ultra-HD TV sets and wearable computing devices also offer medium-term

growth potential.

Full Report Details at
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Headline Expenditure Projections

* Computer Hardware Sales: US$4.2bn in 2012 to US$4.4bn in 2013, +6.1% in US dollar terms. A booming tablet market and indications of growing consumer demand for hybrids and ultra-thin notebooks utilising Windows 8 and Intel's Haswell chipsets will sustain growth in market value.
* AV Sales: US$2.6bn in 2012 to US$2.7bn in 2013, +2.6% in US dollar terms. The TV market will see the slowest growth in the consumer electronics market due to longer replacement cycles by new technology such as AMOLED displays, which should drive upgrades over the medium term.
* Handset Sales: US$6.2bn in 2012 to US$6.6bn in 2013, +6.1% in US dollar terms. Despite market maturity, a high handset replacement rate will ensure the market continues to grow.

Key Trends & Developments

South Korea is one of the most mature smartphone markets globally, but despite the high penetration rate, we do not expect a sharp slowdown in sales. BMI estimates smartphone penetration crossed the 65% mark in Q213, but the South Korean handset market remains lucrative and offers opportunities for growth through innovative products. Research from H113 shows the market to have the highest replacement rate and average selling price for handsets out of the OECD markets and we believe the availability of LTE services, and new products such as flexible screens, will encourage upgrades. Local vendors Samsung and LG, and to a lesser extent Pantech, continue to dominate the market, and we do not foresee a significant shift in the short-to-medium term.

There is a major downside risk to the continued development of the consumer electronics market due to rising tensions with North Korea, which is becoming increasingly unpredictable. This tension manifests in the consumer electronics market through the issue of cyber security, which moved up the government's agenda again in June 2013 following another large-scale attack, crystallising the threat from North Korea in the minds of the government, consumers and enterprises. The government has created a cyber security policy group, is pursuing sector-specific initiatives (such as requirements on the financial sector to build portioned networks) and is embarking on an effort to train large numbers of security experts. BMI believes that the government may have to accelerate the development of its defensive cyber infrastructure due to tensions with North Korea, which could severely undermine confidence in emerging technologies and the vulnerabilities of the networked society.

Report Table of Contents:

The table of contents for this report is available upon request.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Bill Thompson
Phone: 18008448156

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