Russia Consumer Electronics Report - Business Monitor International - Industry Reports

Russia Consumer Electronics Report

Russia Consumer Electronics Report - Business Monitor International - Industry Reports
Russia Consumer Electronics Report
Published Jul 23, 2016
66 pages — Published Jul 23, 2016
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Abstract:

BMI forecasts a US dollar terms contraction of --.- in ---- to USD--.-bn, but even this is an improvement over the --.- contraction in ---- at the depths of the crisis. We again expect the decline in market value to outpace the decline in volumes as consumers defer some spending, but also substitute for lower cost devices and brands in an environment of rouble depreciation that reduces the affordability of imported devices. ...BMI forecasts a US dollar terms contraction of --.- in ---- to USD--.-bn, but even this is an improvement over the --.- contraction in ---- at the depths of the crisis. We again expect the decline in market value to outpace the decline in volumes as consumers defer some spending, but also substitute for lower cost devices and brands in an environment of rouble depreciation that reduces the affordability of imported devices. The rouble depreciated from an average of RUB--.-/USD in ---- to RUB--.-/USD in ---- - and we forecast a further slide to RUB--/USD in ----. As a result of further depreciation, along with negative real GDP and consumption growth, we expect consumer sentiment and purchasing power erosion will result in a continuation in the shifting preference towards lower cost brands and models. Data for Russia s consumer electronics market in ---- show that premium vendors were the hardest hit, as we expected, and there is little prospect of relief in ----.

...Computer Hardware: USD-.-bn in ---- to USD-.-bn in ----, a compound annual growth rate (CAGR) of -.- . Our forecast for only a weak recovery in household purchasing power weighs on the outlook, but there is pent-up demand after the economic crisis in --------- and an increase in local production could also boost growth. AV: USD-.-bn in ---- to USD-.-bn in ----, a CAGR of -.- . AV segment was hardest hit in ----, but TV set upgrades based on smart, Ultra-HD and OLED technologies, particularly in ---- when Russia hosts the FIFA World Cup, should return the market to growth over the medium term. Handsets: USD-.-bn in ---- to USD-.-bn in ----, a CAGR of -.- . ...Handsets: USD-.-bn in ---- to USD-.-bn in ----, a CAGR of -.- . The extent of crisis meant even the handset segment contracted sharply in ----, but there is still potential for first-time smartphone upgrade purchases to drive outperformance of the handset segment once the economic environment improves.

...BMI View: There was a collapse in Russian consumer electronics device spending in ---- as a combination of sanctions and the global decline in oil prices resulted in recession and sharp depreciation of the rouble against the US dollar. The outlook is for further contraction in ----, before a gradual recovery in spending over the medium term as economic challenges lessen, but our forecast is for only a modest recovery as purchasing power will only grow slowly and not recover the strength of ---- even by ----. ...

  
Source:
Document ID
2040-9559
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Russia Consumer Electronics Report" Jul 23, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Russia-Consumer-Electronics-Report-2026-962>
  
APA:
Business Monitor International - Industry Reports. (2016). Russia Consumer Electronics Report Jul 23, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Russia-Consumer-Electronics-Report-2026-962>
  
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