April 15, 2014 12:38
The global markets for smartphones, tablets, PCs, TV sets and videogame consoles will start to slow down this year, global consulting firm Deloitte said Monday.
Deloitte predicted the global market for the five major home appliances will still reach a record US$750 billion this year.
But the growth, which has been 11.8 percent annually on average since 2003, will shrink to seven percent by 2018 with about $800 billion. The consulting firm said a "plateau appears likely" in sales of those products.
The main reason for the slowdown is a decline in prices.
Deloitte said burgeoning markets in emerging countries, where cheaper products are popular, will lead to a continued decline in average prices, so growing sales volume will not make much more money.
Also, the time consumers hold on to their smartphone before buying a new one has grown longer, from 19 months in 2007 to 24 months last year.
Deloitte forecast that the market for small tablet PCs with 8.5-inch or smaller screens will stagnate at the current $100 billion.
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