Boston, MA -- (ReleaseWire) -- 01/28/2014 -- BMI projects Brazil consumer electronics spending will grow by about 11.7% in US dollar terms in 2013 to US$37.8bn. In 2013, sales of some consumer electronics devices have been hit by currency weakness and high household indebtedness, and this is expected to continue in H213. However, growth areas will include 4G smartphones, tablets, Wi-Fi-enabled cameras and HD TV sets. The extension of the government's Lei Do Bem programme, to encourage local production of various products, should boost the availability of affordable smartphones and Huawei has already moved to take advantage of this. Brazil's hosting of the 2014 FIFA World Cup and 2016 Olympics Games will provide a boost to spending on devices ranging from handsets to TV sets and cameras. However, in 2013 we expect the Brazilian consumer to feel the effects of high levels of household debt and there are signs banks are becoming wary about increasing lending.
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