Luxury Portable Consumer Electronics in France

PROSPECTS

Luxury mobile phones declines as consumers favour standard high-tech brands

Overall portable consumer electronics continued to see current value growth in 2019, and indeed saw the highest growth within personal luxury. However, luxury mobile phones experienced a further decline, with Vertu’s bankruptcy and disappearance from the market sending negative signals to the luxury phone industry and limiting its potential to bounce back.

Luxury wearables set to carry the category in the forecast period

Luxury wearables saw a strong performance in 2019, with its double-digit current value growth offsetting the decline in luxury mobile phones. Luxury wearables is expected to fuel the growth of luxury portable consumer electronics over the forecast period.

Health and wellness is a key driver of demand and innovation

Wearable electronics will continue to benefit from rising health awareness amongst French consumers. Increased health-consciousness will help to sustain demand for wearables which track basic biometric data such as heart rate, step count and sleep patterns.

COMPETITIVE LANDSCAPE

Huawei and Porsche Design continue their collaboration in luxury mobile phones

The Porsche Design Huawei Mate 20 RS was the latest luxury smartphone available in France, thanks to a collaboration between Huawei and Porsche Design. Designed for strength and style, with a sleek handcrafted exterior, this new device combines advanced technologies and prestigious materials, and is sold for EUR2,000.

Garmin launches a new range of luxury smartwatches

Due to the strong opportunities for growth, numerous new players entered luxury wearables over the review period, with each novelty generating excitement. Brands entering the category included Michael Kors, TAG Heuer Connected, Louis Vuitton Tambour Horizon and Apple Hermès iWatch, whilst Swarovski introduced a connected bracelet.

Summit from Montblanc returns with a second connected watch

Today’s successful brands are those that have been able to renew their offer or offer real breakthrough innovations. For instance, more than a year after the launch of its first connected watch, Summit, Montblanc was back at the end of 2018 with a brand new model, called Summit 2.

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