Hi-tech gadget sales double in China

New middle class buying more and spending more

Written by Simon Burns in Taipei

Sales of some consumer electronics products have more than doubled in China over the past year as the country's new middle class becomes increasingly affluent.

Personal media player sales almost tripled to 590,000 in the first six months of 2007, according to Beijing-based CCID Consulting, while sales of flat-screen TVs more than doubled to 3.3 million.

Advertisement

First-half revenues in seven key hi-tech product sectors tracked by CCID rose 46 per cent on average to exceed $5.9bn.

Consumer electronics products tracked by CCID include entertainment-related devices such as digital cameras and MP3 players, but do not include computing or communications products such as PCs, mobile phones and video games.

"Dramatic price cuts greatly stimulated LCD TV sales, while plasma TV sales also rebounded strongly," CCID analysts wrote in a recent report.

"HD digital TVs have replaced the previously more common TVs, while flat-panel TVs and digital TVs are becoming the two major cores of the TV market.

"The Chinese state is actively pushing forward LCD panel projects, and offering enterprises greater support."

Flat-panel TV sales generated revenues of $3.8bn in the first half, while vendors made just over $1bn from digital cameras.

While unit sales grew 40 per cent compared to the first half of 2006, sales revenues were up 46 per cent over the same period.

CCID analysts said that, unlike more mature markets, the average price consumers pay per product is increasing in China despite a global downwards price trend for consumer electronics.

Tags:

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Stuart Bridges, Hiscox

Stuart Bridges: FD of Hiscox

Dull is the new black in these straightened times –...

Top 30 Accounting Networks and Associations 2008

The race to become the biggest firm on the planet...

Barack Obama Accountancy Age cover October 2008

Obama: asset or liability?

What an Obama presidency could mean for you

Find your next job

Find your next job
Salary Checker

Job of the week

More finance jobs

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Your next job

Have your say

Will proposed tax cuts help to stimulate the economy?
Yes
No

Advertisement

Search white papers

Search white papers

Advertisement