Boston, MA -- (SBWIRE) -- 01/27/2015 -- We expect the South Korean consumer electronics market will continue to grow over the medium term, but growth will be slow due to market maturity and significantly underperform emerging markets in the region. In the short term, high household debt levels will be a constraint on consumer spending and over the medium term high penetration rates in almost all device categories mean s there will be no surge in demand as first-time buyers enter the market . However, consumer appetite for innovative products and short replacement cycles means we expect it will continue to be a lucrative market for vendors through to 2018 . Phablets, convertible/hybrid notebooks and emerging technologies such as OLED and ultra-HD TV sets and wearable computing devices offer medium-term growth potential.

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Headline Expenditure Projections

- Computer Hardware Sales: USD11.1bn in 2014 to USD11.3bn in 2015, +1.5% in US dollar terms. Tablet volume growth will continue to slow as a result of saturation, limiting overall PC market value growth.

- AV Sales : USD3.83bn in 2014 to USD3.82bn in 2015, -0.2% in US dollar terms. The cannibalisation of digital camera demand by multifunctional smartphones will only be partially offset by demand growth for Smart TV sets.

- Handset Sales : USD7.2bn in 2014 to USD7.4bn in 2015, +1.7% in US dollar terms. South Korea is one of the first markets to reach smartphone market saturation, leaving vendors largely reliant on upgrade/replacement sales and presenting diminished growth prospects versus emerging markets in the region.

Key Trends & Developments

The final quarter of 2014 saw the release of Apple's first phablet (smartphone with 5-inch+ screen size) and from early data we infer a very strong start to sales in South Korea. Statcounter data show a 5 percentage point increase in South Korean mobile browsing traffic attributable to Apple handsets after the launch of the iPhone 6 and 6Plus in November 2014. Prior to...

The South Korea Consumer Electronics Report has been researched at source and features latest-available data covering both the manufacture and sale of consumer electronics products, critically analysing - and forecasting - the market dynamics affecting each sub-sector, including audio-visual, computers, mobile handsets, gaming and automotives electronics. Furthermore, the report analyses the domestic and global economic trends driving device demand and provides company rankings and competitive landscapes covering leading multinational and national consumer electronics companies and analysis of latest industry news and trends in South Korea.

Business Monitor International (BMI)'s South Korea Consumer Electronics Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the consumer electronics industry in South Korea.

Key Benefits

- Benchmark BMI's independent consumer electronics industry forecasts for South Korea to test other views - a key input for successful budgeting and strategic business planning in the Korean consumer electronics market.

- Target business opportunities and risks in South Korea through our reviews of latest industry trends and major deals, projects and investments.

- Exploit the latest competitive intelligence with company SWOT analyses.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering consumer electronics, major investments and projects.

Consumer Electronics Market

Analysis of the size of the domestic market for electronics products, with in-depth assessment and data covering the dynamics driving each sub-sector; audio-visual, computers, mobile phone handsets and gaming devices, as well as demand for automotives electronics.

Electronics Industry

Analysis and data of the domestic electronics manufacturing sector. We assess the regulatory and business operational issues facing manufacturers - including openness to foreign investment, infrastructure, IP issues and the global demand context - and their impact on the production of electronics goods, which is again broken down via market sub-sectors.

Industry Forecast Scenario

Historic data series and forecasts to end-2018 for all key industry and economic indicators (see list below), supported by explicit assumptions, plus analysis of key risks to the main forecast, covering computers, communications and gaming devices. Indicators include:

Industry value (US$bn); population (mn); nominal GDP (US$bn); real GDP growth (%), GDP per capita, industrial production Index (% y-o-y ave.) unemployment % of labour force.

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