Luxury Portable Consumer Electronics in Turkey

PROSPECTS

Blurring the lines

The increasing activities of manufacturers of wearables, sportswear and watches has resulted in a blurring of competitive lines. Electronic wearables continued to be a threat to luxury timepieces in 2018, although growing from a low base.

Buying behaviour of Turkish consumers

When buying luxury portable consumer electronics, Turkish consumers are drawn to ostentatious/conspicuous luxury brands. According to industry experts, a significant share of the luxury mobile phones sold in Turkey are bought by wealthy tourists, mainly from the Middle East.

Luxury wearables continues to evolve

Luxury wearables are evolving to become fashion accessories. In order to continue to attract attention, they need to be both aesthetically appealing as well as offer state-of-the-art technology.

COMPETITIVE LANDSCAPE

The most coveted brands in luxury portable consumer electronics

TAG Heuer International remained the leading player in luxury portable electronics in 2017. Following the success of its first model, the TAG Heuer Connected, the company launched the TAG Heuer Connected Modular 45 in early 2017, at the same time seeking to improve distribution to reach a wider audience.

Bankruptcy of Vertu

Although Vertu phones are still available in Turkey, retailers are choosing not to sell them due to a lack of after-sales service. In July 2017, the company auctioned off its back catalogue of phones dating from 2002.

Introduction of new luxury wearables leads to increased competition

2018 saw several new product launches. For example, the Movado Connect smartwatch has sensors that track activity, while also offering NFC and GPS technology and being resistant to water and dust.

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