CHINA: The China consumer electronics market will grow by around 10 percent in 2013, according to ResearchandMarkets.
We forecast headline consumer spending to grow at 10 percent in 2013 and 2014, which marks a downward revision from our previous forecast of 8.4 percent for both years. The government's rural consumer electronics subsidy programme should continue to drive flat-screen TV sets and other products and electronic vendors and retailers are expanding and adjusting strategies to take advantage of this opportunity.
Vendors will look to newer technologies such as smart TVs, LED TV sets and 3D TV sets, to drive sales.
Smartphones are estimated to account for above 40 percent of total handset sales in China, and this share will pass 60 percent by 2017. Lower prices are a major driver of demand growth in AV and smartphone segments, with average smartphone prices projected to fall below RMB1,200 within BMI's forecast period from 2013 to 2017.