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Wed 3 Mar 2010 01:13 PM

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UAE electronics spending seen up 33% by 2014

BMI report says introduction of 3DTV to boost sales of premium TVs in the UAE.

UAE electronics spending seen up 33% by 2014
TV SALES: The introduction of 3DTV will be a boost to sales of audio-visual products in the UAE.

Sales of consumer electronics in the UAE are predicted to rise by 33 percent over the next four years, driven by the popularity of new gadgets, Business Monitor International said on Wednesday.

Sales of products such as computers, mobile phones and audio-visual goods are set to hit $2.7bn in 2010, reaching $3.6bn by 2014, the research company said in a new report.

The growth, it said, followed a difficult 2009 during which sales of some audio-visual products suffered a double-digit dip due to the global economic slowdown.

BMI said UAE retailers Sharaf and Jacky's Electronics reported that sales stabilised in July and August in terms of volumes and consumer confidence continued to improve towards the end of the year.

It said computer hardware accounted for 58 percent of UAE consumer electronics spending in 2009, with a compound annual growth rate forecast at about eight percent to 2014.

In 2010, BMI said it saw computer sales hitting $1.6bn, up from $1.5bn in the previous year.

Mobile handset sales saw a reverse in 2009, the report added, but were expected to return to growth this year and would continue to grow at an average rate of seven percent to 2014.

The mobile phone market in the UAE would be worth $374m by 2014 as subscriber penetration reaches 234 percent, BMI said.

Growth in audio-visual devices in the UAE is seen to be slower at four percent to 2014 when the total market will be worth $1.1bn.

BMI said the roll-out of 3DTV broadcasting in 2010 would drive demand for premium TV sets and Blu-Ray devices.

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