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South Korea consumer electronics market: Spending hits $14bn in 2013
South Korea Consumer Electronics Report Q3 2013 - a new market research report on 2014-04-23 13:41:01
We project South Korean consumer electronics spending will grow by about 4.7% in US dollar terms, from US$13.3bn in 2012, to US$14.0bn in 2013, with a moderation in consumer demand expected.

The Korean consumer electronics market is forecast to grow in 2013, despite the mixed trading environment due to high household debt levels. In future, the maturity of many market segments means growth will be driven to a large extent by product innovation, such as new models of smartphones, touchscreen handsets, as well as emerging technologies such as OLED and ultra-HD TV sets. The roll-out of digital TV broadcasting ahead of analogue switch-off in 2013 will help support sales of premium TV sets.

Smartphones, tablets and internet-enabled TV sets were among the main growth areas in 2012, with smart TV set technology a fierce competitive battleground for vendors ahead of a possible product launch by Apple. However, the market remains challenging for many vendors, due to the dominance of domestic giants like Samsung and LG.

Headline Expenditure Projections

- Computer Hardware Sales: US$4.5bn in 2012 to US$4.7bn in 2013, +4.0% in US dollar terms. Growth areas will include demand for mobile form factors such as tablets, as well as Microsoft´s Windows 8 operating system.

- AV Sales: US$2.6bn in 2012 to US$2.7bn in 2013, +2.6% in US dollar terms. TV set product innovation expected to be the most dynamic development.

- Handset Sales: US$6.62bn in 2012 to US$6.6bn in 2013, +5.7% in US dollar terms. Migrations to 4G/ LTE smartphones will drive growth in 2013, despite market saturation.

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Mike King
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