2014-01-22 19:20:49 - Fast Market Research recommends "Egypt Consumer Electronics Report Q1 2014" from Business Monitor International, now available
The medium term outlook for Egypt's consumer electronic market is strong, with favourable demographics, rising incomes and investment supporting infrastructure such as telecoms networks and retail/distribution combining to drive growth. However, in the short term the picture is more mixed, and we see consumer electronics spending contracting by 0.1% in US dollar terms in 2013 as a result of tightening of credit availability and a depreciation of the local currency, making imported products more expensive. We believe the effect will be strongest for bigger ticket items including TVs and PCs, while handsets will be the only segment to register growth in 2013.
Full Report Details at
- www.fastmr.com/prod/763954_egypt_consumer_electronics_report_q1_ ..
Headline Expenditure Projections
Computer hardware sales: US$834mn in 2012 to US$775mn in 2013, -7.1%
in US dollar terms. Sales have been hit by the economic and political situation, with lack of credit and currency depreciation hurting sales as price sensitive consumers defer purchases.
AV sales: US$377mn in 2012 to US$374mn in 2013, -0.7% in US dollar terms. Flat-screen TV sets the main driver of growth, but sales will be hit by lack of credit and currency depreciation, making imports more expensive.
Handset sales: US$2.3bn in 2012 to US$2.4bn in 2013, +2.6% in US dollar terms. The handset market is the most dynamic in Egypt, and we believe it was the only segment to grow in US dollar terms in 2013. The lower average price of handsets, credit from operators and the higher volume nature of the market will keep growth in positive territory.
Key Trends And Developments
The mobile handset market in Egypt is developing rapidly as handset vendors are releasing featurephones and smartphones with attractive features at prices that appeal to the mass market in Egypt. There is significant growth potential over the medium term, as consumers increasingly look to buy featurephones and smartphones, which will increase the average selling price. Nokia has traditionally led the market, but has been hurt by the popularity of smartphones, particularly Android and Samsung devices. It remains popular in the featurephone market via its range of Asha devices, and it is in this market segment and lowend smartphones where BMI expects competition to be most intense as Nokia and Samsung face off against Chinese vendors.
While the overall PC market was hit hard by economic and political uncertainty in 2013 ,one area of the computer hardware market that is still growing is tablets. Tablets will account for an increasing share of PC sales over the medium term, driven by demand from the retail segment and government educational initiatives. In June 2013 Benha Electronics unveiled the first Egyptian manufactured tablet to the Ministry of Communications and Information Technology under the government's tablet for education programme. Benha released a first batch of 10,000 tablets at the end of June 2013, which was to be distributed to university students at affordable prices, but there is an agreement in place to significantly expand production to 2mn units over the course of four years.
Report Table of Contents:
The table of contents for this report is available upon request.
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