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Learn moreJan 2021
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Luxury portable consumer electronics was already a weak category in Russia, having seen declines in sales over the review period (for luxury mobile phones), with luxury wearables showing small growth due to it being a relatively new category in the country. Luxury smartphones do not differ much from regular smartphones in the user experience, rather, they are simply provided with specific packages of data and apps et al, at a higher price; along with the perceived status factor of having a luxury phone with regards to the design.
The consumer audience for luxury portable consumer electronics is also affected by the declining salaries in the middle class of Russian consumers, who are the key audience for the category. The real disposable incomes of Russian consumers have been in decline since 2015 and the event of COVID-19 has placed further downwards pressure on this depressed economic situation.
Citizen Watch Co Ltd maintained its strong lead in luxury portable consumer electronics in 2019, beyond which the largest shares are held by smaller players in “others”. Citizen Watch Co owes its success to its Frederique Constant brand, with its closest competitor being Apple Watch Hermès (Apple Inc), albeit with much smaller shares.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Portable Consumer Electronics industry in Russia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Portable Consumer Electronics industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.