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Tony Milton MRICS

BSc (Hons) Est Man
MRICS
APREA (CREIF)

Other of Retail, Fast Food, etc
Monday, 16 March 2009

OTHER

 

 

IT & ELECTRONICS

 

 

 

 

The market research firm GfK Asia has projected an increase of 27% for the country's consumer technology market in 2008 with total sales of USD$4.07 billion. The strong performance of the market is driven by sales of informa­tion technologies, home appliances and telecommunication products, with respective increases of 41%,34% and 18%. In 2007, the consumer tech­nology market achieved a total value of USD$3.2 billion, up 33% year-on-year. This resulted from the growth rates of 59% and 41% in infor­mation technology and consumer electronics sales. LCD and Plasma TVs were the most favorite consumer electronic products of 2007 as they registered a year-on-year rise of 183% in revenue and 329% in volume. Increasing demand secured the second position for personal com­puters, especially the portable prod­uct. This product grew 93% in rev­enue and 113% in volume in 2007 and is forecast to remain promising in the next three years. GfK Asia predicted a bright fu­ture for digital cameras in the com­ing years based on their growth rates of 66% in sales and 87% in vol­ume last year. In 2007, mobile phone led the technology sector anq held 23% of this market in Vietnam. GfK Asia forecast this product would retain the No. 1 segment of the retail and technology market in the years ahead.

 

 

 

 

LG Electronics Vietnam set a sales target of USD$250 million in 2008 compared to over USD$170 million in 2007. The foreign-owned company trades in 12 lines of electronic and refrigeration products an has recorded an annual average growth rate of 30%.

 

 

 

 

In early 2009, market researchers firm GfK said the local technology market fared magnificently despite the economic slump. There were nearly 8.3m mobile phones and nearly 1.4m fridges sold in 2008, while sales of desktop computers almost reached 1m units, and LCD monitors passed 1 million units. They also announced that Vietnam’s technology market last year maintained high growth at an estimated 21%. The electronics segment witnessed a growth rate of 19% against 2007, whilst that for the IT sector was 26%; telecommunications 27%; and home appliances 25%.

 

Last Updated ( Friday, 27 March 2009 )
 
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