Serbia Consumer Electronics Industry Update Quarter 2 2012

  • March 2014
  • -
  • Business Monitor International
  • -
  • 68 pages

Includes 3 FREE quarterly updates

Serbia’s consumer electronics devices industry, defined as the addressable industry for computing devices, mobile handsets and video, audio and gaming products, is projection to stand at around US Dollar 1.2bn in 2012. Serbian households were hit hard in the aftermath of the global financial crisis and consumer demand has been slow to recover. BMI projections low single-digit growth in spending in 2012 as the macroeconomic headwinds originating from the eurozone appear to have put a brake on faster growth for now. Stubbornly high unemployment and the debt burden have constrained demand for goods such as flat-screen TV sets, smartphones and notebooks and placed pressure on revenue and margins.
A government-negotiated thaw of an IMF-imposed freeze of public segment wages and pension benefits in 2011 promised a boost to demand as pension benefit values and wage growth were negative in real terms in 2010. BMI projections that Serbian per capita consumer electronics spending will increase from US Dollar 124 in 2012 to US Dollar 159 by 2016.
Computer hardware accounted for around 42% of Serbia’s consumer electronics spending in 2011. Sales increased again in 2011, following a double-digit contraction in 2010. With only around 40% of households having a computer, according to government figures, the computer hardware compound annual growth rate (CAGR) for the from 2012 to 2016 period is projection at about 7.7%, driven by revenues of notebooks. Meanwhile, government programmes such as a Euros 620,000 procurement of computers scheme for primary schools will support revenues .
AV Devices
AV devices accounted for around 37% of Serbia’s consumer electronics spending in 2011. The Serbian domestic AV device industry is projected at US Dollar 436mn in 2012. Following a modest recovery in 2011, a CAGR of 5.3%is projected for from 2012 to 2016, due largely to growth in the digital TV set category. Serbia is scheduled to complete its switchover to digital broadcasting by April 2012.
Mobile Handsets
Mobile handset revenues accounted for around 22% of Serbia’s consumer electronics spending in 2011. Serbia’s industry handset revenues are expected to grow at a CAGR of 6.5% to US Dollar 351mn in 2016, as revenues in Serbia’s youthful industry are increasingly dominated by replacement handsets, with a growing industry for 3G models and smartphones. In 2011 the abolition of the 10% mobile phone tax provided a boost to the handset industry .

Table Of Contents

Executive Summary .. 5
Industry SWOT Analysis . 7
Serbia Consumer Electronics Industry SWOT 7
Serbia Political Environment and Risk Analysis ....... 8
Serbia Economic Environment and Risk Analysis ..... 8
Serbia Business Environment SWOT ... 9

Environment Overview Ratings ........ 10
Data : Regional Consumer Electronics Risk/Reward Ratings, Q2 2012 .. 10
Consumer Electronics Industry . 15
Computers...... 16
Data : PC Sales, from 2009 to 2016 ..... 16
AV 19
Data : AV Sales, from 2009 to 2016 ...... 19
Mobile Handsets ..... 22
Data : Mobile Communications, from 2009 to 2016 ........ 22
Consumer Electronics Market ........ 26
Data : Serbia ICT Market - Key Metrics .. 26

Market Projection Scenario ...... 30
Consumer Electronics Industry .. 30
Data : Consumer Electronics Overview, from 2009 to 2016 ..... 30

Industry Developments .... 33
Macroeconomic Projection 35
Largest Banks In Serbia By Total Assets ..... 37

Competition Overview ... 39
Computer ....... 39
Handsets ........ 40
Video, Audio and Gaming ... 41
Company Profiles .... 43
ComTrade ...... 43
BMI Methodology .... 44
How We Generate Our Market Projections . 44
Electronics Market 45
Sources . 45

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