Hungary Consumer Electronics Report Q1 2015

Nov 10, 2014 - Business Monitor International - 72 pages - USD $1,295
Abstract Table of Contents Request Details Related
The Hungarian consumer electronics market has suffered from the challenging economic environment in Hungary in recent years but demand recovered in 2014 as a result of technology trends, ie booming tablet and smartphone sales, as well as the fact upgrade demand was brought forward by the withdrawal of XP support and the FIFA World Cup. Although several macroeconomic indicators are expected to continue to strengthen in 2015, the depreciation of the forint against the US dollar will mean trading conditions remain challenging and we expect demand to contract in US dollar terms in 2015. Despite the ongoing drag on growth, we believe the Hungarian market retains the potential for medium-term growth. Home computer penetration remains low compared with peer group countries while internet penetration is also relatively low as a percentage of households. Meanwhile, in the handset market, consumers are increasingly becoming data-centric, offering scope for smartphone adoption as vendors offer low-cost devices.

Headline Expenditure Projections
  • Computer Hardware Sales: USD934mn in 2014 to USD875mn in 2015, a decrease of 6.4%. Depreciation of the forint will weigh on demand in 2015, exacerbated by the fact considerable desktop upgrade demand was brought forward by the withdrawal of support for the XP OS in 2014.
  • AV Sales: USD505mn in 2014 to USD504mn in 2015, -0.2% in US dollar terms. Digital camera and mp3 markets will continue to contract, but volumes are beginning to stabilise after the boom in smartphone volumes cannibalised sales.
  • Handset Sales: USD682mn in 2014 to USD690mn in 2015, +1.2% in US dollar terms. Marked slowdown from 2014, but expected to be the only segment to continue growing as operator subsidies help to support market growth despite the constraints on Hungarian consumers.
Key Trends And Developments

The Hungarian IT and consumer electronics base has been hit by several trends in recent years including...

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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.