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Electronic goods buyers to brave stormy times   2008-11-09 - VIR

More and more consumers are being turned on by plasma televisions.

 Vietnam’s electronic and telecom consumption should remain strong into next year amid global financial turmoil.

Market researcher Growth from Knowledge (GfK) said the consumer electronics segment should have the highest annual growth in value out of the telecommunications, information technology and home appliance segments, reaching 21 per cent next year, a 4 per cent year-on-year increase.

Sales are predicted to be around $908 million next year, a 21 per cent rise. Tran Khoa Van, country director of GfK Asia in Vietnam, said the consumption of LCD and plasma televisions was predicted to be high this and next year and be the main factor contributing to electronic segment growth next year.

The market share of plasma televisions has increased by 15 per cent in the first half of this year. The consumption of visual products made up a major part of the consumer electronics while audio product purchases accounted for only 2 per cent.

“The demand for high-end audio products will rise in the near future in comparison with limited consumption of necessary visual items,” said Van.

The traditional CRT television consumption has decreased for years and will reduce by 22 per cent in unit sales next year, standing at 1.4 million unit sales. Plasma televisions, meanwhile, will rise by 246 per cent next year in unit sales, equal to 897,000 units.

Telecommunications comprises mobile and fixed telephones with year-on-year growth rates of 3 per cent next year, ranking the second segment and the largest estimated market consumption value of $1.26 billion next year from this year’s $1 billion.

There will be around 9.2 million telephone unit sales this year and 11.3 million units next year. Of which, local residents will pay an estimated $1 billion for purchasing eight million mobile handset units this year and $1.2 billion for 10 million units next year. Local consumers also paid $80 million for SIM cards.

“Vietnamese people spend a lot of money on their phones to simply call or message. The telecommunication segment accounted the largest part of market value by a product group with 27 per cent this year,” said Van.

GfK estimates that the market growth rate will be 21 per cent this and next year, reaching $3.9 billion this year and $4.7 billion next year. Sales will also rise from 21.2 and 25.6 million units next year for all group products.

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