Vietnamese consumer technology market to expand 20 pct in 2008
28/10/2008 16:04
Vietnam's consumer technology market may not expand as strongly as
expected this year due to global economic downturn, but its turnover will remain
strong, local newspaper The Youth reported today, citing source with the market
research firm GfK Vietnam.
Total turnover is expected to top US$3.9 billion
by the end of this year, an increase of 21 percent year-on-year, but lower than
the company's forecast of US$4.07 billion, GfK said.
The consumer technology
market consists of consumer electronics, home appliances, information
technology, telecommunication and photography.
Tran Khoa Van, GfK Vietnam's
country manager, said high inflation in Vietnam has impacted local purchasing
power as consumers grapple with high costs of food, clothes, travel and
entertainment.
Yet Vietnam remains a strong market in Asia as more Vietnamese
people are attracted by high technology products and willing to spend their
income.
Van felt the market will continue to expand by at least 20 percent
next year as the country continues its strong economic development.
The
market has grown faster in value than in units this year because more expensive
multi-functioned technology products were introduced to local consumers, GfK
Vietnam said.
Of the five product sectors, photo products such as cameras and
video recorders will have the highest year-on-year growth rate in both unites
and value, with 60 percent and 37 percent respective, said the
company.
Xinhua
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