Boston, MA -- (ReleaseWire) -- 04/09/2014 -- the growth of Thailand's consumer electronics market was stalled in 2013 as a consequence of political unrest and trends within the consumer electronics market such as TV market saturation, digital camera and mp3 player demand cannibalisation by smartphones and price erosion in the PC market. After a challenging 2013 we expect the market to recover from 2014, boosted by deferred spending from 2013. The fastest growth will be in demand for smart devices, such as tablets, smartphones, smart-TVs and the emerging hybrid/convertible notebook category. Demand will be boosted by price competition between vendors, with a number of global vendors targeting the market for growth, as well as operator investment in data network expansion and digital TV migration Over the medium term our outlook for consumer electronics spending is positive as incomes rise, and the declining price of devices in key product categories, will ensure the market continues to grow.
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Headline Expenditure Projections
Computer Hardware Sales: US$3.2bn in 2013 to US$3.4bn in 2014, an increase of 5.3%. Tablet sales are booming, sustaining growth of the market overall in unit terms, but with notebook sales cannibalised for lower-cost Android tablets, increases in market value will fail to keep pace. AV Sales: US$1.7bn in 2012 to US$1.7bn in 2013, an increase of 0.8%. The market will return to growth after contraction 2012-2013 as digital TV service migration pushes TV set upgrade purchases. Handset Sales: US$2.4bn in 2013 to US$2.7bn in 2014, an increase of 11.5%. The handset market will be the outperforming category as smartphones account for an increasing share of the sales mix, pushing up average selling price for the market as a whole.
Key Trends & Developments
The boom in smartphone sales in Thailand has had a major impact on the consumer electronics market. It has provided an impetus for rapid expansion of the handset market in value terms, but also negatively impacted the AV market by cannibalising demand for dedicated digital camera and audio devices. Looking first at the handset market, BMI expects growth momentum will be maintained in 2014 in unit terms, as competition between Android partner vendors ensures a deepening of the market through lower prices. Several leading global vendors including LG, Lenovo and Huawei are targeting Thailand - while Nokia will provide additional competition through Windows Phone Lumia devices. Intense competition will result in price erosion - with the sub-THB5,000 expected to see the strongest demand growth - and as such market value will underperform unit growth again in 2014.
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