Consumer Electronics in South Korea
Euromonitor International's Consumer Electronics in South Korea report offers a comprehensive guide to the size and shape of the audio and video products market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market- be they new product developments, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 154 | Publication date: Apr 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Computers; In-car consumer electronics (aftermarket); In-home consumer electronics; Portable consumer electronics
Executive summary
Growth in the consumer electronics market
The consumer electronics industry in Korea witnessed 11.2% value growth and 9.6% volume growth in 2008, representing a market size of 53.3 million units and 22.1 trillion Korean won. Value growth for 2007 was 8.9% and volume growth 10.0%. This increase can be explained by the rapid replacement of consumer electronic goods for its digital equivalent in sectors such as televisions or camcorders, or for an upgraded type of product which applies to PMPs, navigation systems or phones. The decrease in unit price has also driven up volume sales for certain products including laptops. The CAGR for 2003-2008 is 8.2% in value and 8.1% in volume terms.
Gloomy forecast for Korean economy
The latest financial crisis has hit the Korean economy intensely, with a rapid devaluation of Korean won which lost a quarter of its value against the dollar in just one week. Koreans also carry heavy personal debt which is higher than those of Americans. Many Korean companies are struggling to make ends meet, the government faces a hostile public, and the unemployment rate has risen. Korea has recently lowered its economic growth forecast. Although the devaluation of won has made Korean products more competitive overseas it has had a negative impact within the domestic economy by destabilising the market environment, accentuated by fleeing foreign investors.
Size is important
One of the fastest growing products during the review period is laptops in which has seen a 26.4% increase in volume terms, mainly driven by lower prices and the smaller size of the product deeming it more attractive and convenient to users. The digital cameras sector has seen a boost in sales as they have combined their high end manual functions with the smaller compact cameras, introducing smaller and more affordable DSLR cameras. This has led to growth in sales of digital cameras which prior to this had been suffering stagnant growth.
Many newcomers face bankruptcy
As the consumer electronics industry has accounted for an increasing slice of market share within Korea, a number of venture companies and existing companies have been attempting to penetrate the market. The success stories of first-movers such as ReignCom which started the MP3 player trend, DigitalCube which started the PMP, or ThinkWare which initiated the navigations market in Korea – have inspired many newcomers to join these markets. However, these markets have now reached saturation due to severe competition thus resulting in driving out many of the more recent entrants due to inadequate resources, business plans or plain inexperience. This trend is especially prominent in the navigations sector where the booming growth rate of 2005 and 2006 has resulted in a saturated the market by 2007/2008.
Consumer Electronics market will face tightened wallets
The consumer electronics market is expected to grow as Korean companies will continue to develop new digital products which will be eagerly bought by the consumers. However, given the negative turn in the Korean economy, the rate of replacement for the latest gadgets is likely to decline. Many consumers will restrict spending on ‘luxury’ items in order to save expenditure for basic necessities such as food, rent and education. This will in turn leave less disposable income for consumer electronics products unless they are revolutionary.
Table of contents
CONSUMER ELECTRONICS IN SOUTH KOREA : MARKET INSIGHT
EXECUTIVE SUMMARY
Growth in the consumer electronics market
Gloomy forecast for Korean economy
Size is important
Many newcomers face bankruptcy
Consumer Electronics market will face tightened wallets
KEY TRENDS AND DEVELOPMENTS
Protruding ‘chaebol’ dominance
Chinese competition: overseas and domestic
Quality not only quantity
Wibro and IPTV
Stifled local idea generation leads to overseas market
MARKET DATA
Table 1 Sales of Consumer Electronics by Sector: Volume 2003-2008
Table 2 Sales of Consumer Electronics by Sector: % Volume Breakdown 2003-2008
Table 3 Sales of Consumer Electronics by Sector: % Volume Growth 2003-2008
Table 4 Sales of Consumer Electronics by Sector: Value 2003-2008
Table 5 Sales of Consumer Electronics by Sector: % Value Breakdown 2003-2008
Table 6 Sales of Consumer Electronics by Sector: % Value Growth 2003-2008
Table 7 Consumer Electronics Company Shares 2003-2007
Table 8 Consumer Electronics Brand Shares 2004-2007
Table 9 Sales of Consumer Electronics by Distribution Format 2003-2008
Table 10 Forecast Sales of Consumer Electronics by Sector: Volume 2008-2013
Table 11 Forecast Sales of Consumer Electronics by Sector: % Volume Breakdown 2008-2013
Table 12 Forecast Sales of Consumer Electronics by Sector: % Volume Growth 2008-2013
Table 13 Forecast Sales of Consumer Electronics by Sector: Value 2008-2013
Table 14 Forecast Sales of Consumer Electronics by Sector: % Value Breakdown 2008-2013
Table 15 Forecast Sales of Consumer Electronics by Sector: % Value Growth 2008-2013
DEFINITIONS
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SOUTH KOREA
APPLE COMPUTERS KOREA - CONSUMER ELECTRONICS - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Apple Computers Korea: Key Facts
Summary 3 Apple Computers Korea: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 4 Apple Computers Korea: Competitive Position 2007
COWON SYSTEMS INC - CONSUMER ELECTRONICS - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Cowon Systems: Key Facts
Summary 6 Cowon Systems: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 7 Cowon Systems: Competitive Position 2007
LG ELECTRONICS CO LTD - CONSUMER ELECTRONICS - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 8 LG Electronics: Key Facts
Summary 9 LG Electronics: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 10 LG Electronics: Production Statistics 2007
COMPETITIVE POSITIONING
Summary 11 LG Electronics: Competitive Position 2007
SAMSUNG ELECTRONICS CO LTD - CONSUMER ELECTRONICS - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 12 Samsung Electronics: Key Facts
Summary 13 Samsung Electronics: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 14 Samsung Electronics: Production Statistics 2007
COMPETITIVE POSITIONING
Summary 15 Samsung Electronics: Competitive Position 2007
THINKWARE CO LTD - CONSUMER ELECTRONICS - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 16 Thinkware System Corporation: Key Facts
Summary 17 Thinkware System Corporation: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 18 Thinkware System Corporation: Competitive Position 2007
TELEVISIONS AND PROJECTORS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 19 Televisions and Projectors: New Product Launches 2007- 2008
SECTOR DATA
Table 16 Sales of Televisions and Projectors by Sector: Volume 2003-2008
Table 17 Sales of Televisions and Projectors by Sector: % Volume Growth 2003-2008
Table 18 Sales of Televisions and Projectors by Sector: Value 2003-2008
Table 19 Sales of Televisions and Projectors by Sector: % Value Growth 2003-2008
Table 20 Sales of Digital Televisions by Type 2003-2008
Table 21 Televisions and Projectors Company Shares 2003-2007
Table 22 Televisions and Projectors Brand Shares 2004-2007
Table 23 Sales of Televisions and Projectors by Distribution Format 2003-2008
Table 24 Forecast Sales of Televisions and Projectors by Sector: Volume 2008-2013
Table 25 Forecast Sales of Televisions and Projectors by Sector: % Volume Growth 2008-2013
Table 26 Forecast Sales of Televisions and Projectors by Sector: Value 2008-2013
Table 27 Forecast Sales of Televisions and Projectors by Sector: % Value Growth 2008-2013
VCRS AND DVD PLAYERS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 20 VCRs and DVD Players: New Product Launches 2007- 2008
SECTOR DATA
Table 28 Sales of VCRS and DVD Players by Sector: Volume 2003-2008
Table 29 Sales of VCRS and DVD Players by Sector: % Volume Growth 2003-2008
Table 30 Sales of VCRS and DVD Players by Sector: Value 2003-2008
Table 31 Sales of VCRS and DVD Players by Sector: % Value Growth 2003-2008
Table 32 VCRS and DVD Players Company Shares 2003-2007
Table 33 VCRS and DVD Players Brand Shares 2004-2007
Table 34 Sales of VCRS and DVD Players by Distribution Format 2003-2008
Table 35 Forecast Sales of VCRS and DVD Players by Sector: Volume 2008-2013
Table 36 Forecast Sales of VCRS and DVD Players by Sector: % Volume Growth 2008-2013
Table 37 Forecast Sales of VCRS and DVD Players by Sector: Value 2008-2013
Table 38 Forecast Sales of VCRS and DVD Players by Sector: % Value Growth 2008-2013
TV AND VCR/DVD COMBINATIONS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 39 Sales of TV and VCR/ DVD Combinations: Volume 2003-2008
Table 40 Sales of TV and VCR/ DVD Combinations: % Volume Growth 2003-2008
Table 41 Sales of TV and VCR/ DVD Combinations: Value 2003-2008
Table 42 Sales of TV and VCR/ DVD Combinations: % Value Growth 2003-2008
Table 43 TV and VCR/ DVD Combinations Company Shares 2003-2007
Table 44 TV and VCR/ DVD Combinations Brand Shares 2004-2007
Table 45 Sales of TV and VCR/ DVD Combinations by Distribution Format 2003-2008
Table 46 Forecast Sales of TV and VCR/ DVD Combinations: Volume 2008-2013
Table 47 Forecast Sales of TV and VCR/ DVD Combinations: % Volume Growth 2008-2013
Table 48 Forecast Sales of TV and VCR/ DVD Combinations: Value 2008-2013
Table 49 Forecast Sales of TV and VCR/ DVD Combinations: % Value Growth 2008-2013
HOME AUDIO AND CINEMA IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 21 Home Audio and Cinema Products: New Product Launches 2007- 2008
SECTOR DATA
Table 50 Sales of Home Audio and Cinema Products by Sector: Volume 2003-2008
Table 51 Sales of Home Audio and Cinema Products by Sector: % Volume Growth 2003-2008
Table 52 Sales of Home Audio and Cinema Products by Sector: Value 2003-2008
Table 53 Sales of Home Audio and Cinema Products by Sector: % Value Growth 2003-2008
Table 54 Home Audio and Cinema Products Company Shares 2003-2007
Table 55 Home Audio and Cinema Products Brand Shares 2004-2007
Table 56 Sales of Home Audio and Cinema Products by Distribution Format 2003-2008
Table 57 Forecast Sales of Home Audio and Cinema Products by Sector: Volume 2008-2013
Table 58 Forecast Sales of Home Audio and Cinema Products by Sector: % Volume Growth 2008-2013
Table 59 Forecast Sales of Home Audio and Cinema Products by Sector: Value 2008-2013
Table 60 Forecast Sales of Home Audio and Cinema Products by Sector: % Value Growth 2008-2013
CAMERAS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 22 Cameras: New Product Launches 2007- 2008
SECTOR DATA
Table 61 Sales of Cameras by Sector: Volume 2003-2008
Table 62 Sales of Cameras by Sector: % Volume Growth 2003-2008
Table 63 Sales of Cameras by Sector: Value 2003-2008
Table 64 Sales of Cameras by Sector: % Value Growth 2003-2008
Table 65 Cameras Company Shares 2003-2007
Table 66 Cameras Brand Shares 2004-2007
Table 67 Sales of Cameras by Distribution Format 2003-2008
Table 68 Forecast Sales of Cameras by Sector: Volume 2008-2013
Table 69 Forecast Sales of Cameras by Sector: % Volume Growth 2008-2013
Table 70 Forecast Sales of Cameras by Sector: Value 2008-2013
Table 71 Forecast Sales of Cameras by Sector: % Value Growth 2008-2013
CAMCORDERS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 23 Camcorders: New Product Launches 2007- 2008
SECTOR DATA
Table 72 Sales of Camcorders by Sector: Volume 2003-2008
Table 73 Sales of Camcorders by Sector: % Volume Growth 2003-2008
Table 74 Sales of Camcorders by Sector: Value 2003-2008
Table 75 Sales of Camcorders by Sector: % Value Growth 2003-2008
Table 76 Camcorders Company Shares 2003-2007
Table 77 Camcorders Brand Shares 2004-2007
Table 78 Sales of Camcorders by Distribution Format 2003-2008
Table 79 Forecast Sales of Camcorders by Sector: Volume 2008-2013
Table 80 Forecast Sales of Camcorders by Sector: % Volume Growth 2008-2013
Table 81 Forecast Sales of Camcorders by Sector: Value 2008-2013
Table 82 Forecast Sales of Camcorders by Sector: % Value Growth 2008-2013
PORTABLE MEDIA PLAYERS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 24 Portable Media Players: New Product Launches 2007- 2008
SECTOR DATA
Table 83 Sales of Portable Media Players by Sector: Volume 2003-2008
Table 84 Sales of Portable Media Players by Sector: % Volume Growth 2003-2008
Table 85 Sales of Portable Media Players by Sector: Value 2003-2008
Table 86 Sales of Portable Media Players by Sector: % Value Growth 2003-2008
Table 87 Sales of Portable MP3 Players by Type 2003-2008
Table 88 Portable Media Players Company Shares 2003-2007
Table 89 Portable Media Players Brand Shares 2004-2007
Table 90 Sales of Portable Media Players by Distribution Format 2003-2008
Table 91 Forecast Sales of Portable Media Players by Sector: Volume 2008-2013
Table 92 Forecast Sales of Portable Media Players by Sector: % Volume Growth 2008-2013
Table 93 Forecast Sales of Portable Media Players by Sector: Value 2008-2013
Table 94 Forecast Sales of Portable Media Players by Sector: % Value Growth 2008-2013
MOBILE PHONES IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 25 Mobile Phones: New Product Launches 2007- 2008
SECTOR DATA
Table 95 Sales of Mobile Phones: Volume 2003-2008
Table 96 Sales of Mobile Phones: % Volume Growth 2003-2008
Table 97 Sales of Mobile Phones: Value 2003-2008
Table 98 Sales of Mobile Phones: % Value Growth 2003-2008
Table 99 Sales of Mobile Phones by Type 2003-2008
Table 100 Mobile Phones Company Shares 2003-2007
Table 101 Mobile Phones Brand Shares 2004-2007
Table 102 Sales of Mobile Phones by Distribution Format 2003-2008
Table 103 Forecast Sales of Mobile Phones: Volume 2008-2013
Table 104 Forecast Sales of Mobile Phones: % Volume Growth 2008-2013
Table 105 Forecast Sales of Mobile Phones: Value 2008-2013
Table 106 Forecast Sales of Mobile Phones: % Value Growth 2008-2013
IN-CAR CONSUMER ELECTRONICS (AFTERMARKET) IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 107 Sales of In-car Consumer Electronics by Sector: Volume 2003-2008
Table 108 Sales of In-car Consumer Electronics by Sector: % Volume Growth 2003-2008
Table 109 Sales of In-car Consumer Electronics by Sector: Value 2003-2008
Table 110 Sales of In-car Consumer Electronics by Sector: % Value Growth 2003-2008
Table 111 In-car Consumer Electronics Company Shares 2003-2007
Table 112 In-car Consumer Electronics Brand Shares 2004-2007
Table 113 Sales of In-car Consumer Electronics by Distribution Format 2003-2008
Table 114 Forecast Sales of In-car Consumer Electronics by Sector: Volume 2008-2013
Table 115 Forecast Sales of In-car Consumer Electronics by Sector: % Volume Growth 2008-2013
Table 116 Forecast Sales of In-car Consumer Electronics by Sector: Value 2008-2013
Table 117 Forecast Sales of In-car Consumer Electronics by Sector: % Value Growth 2008-2013
COMPUTERS IN SOUTH KOREA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 26 Computers: New Product Launches 2007- 2008
SECTOR DATA
Table 118 Sales of Computers by Sector: Volume 2003-2008
Table 119 Sales of Computers by Sector: % Volume Growth 2003-2008
Table 120 Sales of Computers by Sector: Value 2003-2008
Table 121 Sales of Computers by Sector: % Value Growth 2003-2008
Table 122 Computers Company Shares 2003-2007
Table 123 Computers Brand Shares 2004-2007
Table 124 Sales of Computers by Distribution Format 2003-2008
Table 125 Forecast Sales of Computers by Sector: Volume 2008-2013
Table 126 Forecast Sales of Computers by Sector: % Volume Growth 2008-2013
Table 127 Forecast Sales of Computers by Sector: Value 2008-2013
Table 128 Forecast Sales of Computers by Sector: % Value Growth 2008-2013