What They Say
The GFU in Germany sent us details of its Hemix Home Electronics Market Index which was up 2.2% in the first half of 2022 at €22.6 billion. Consumer electronics was most of this at €14.2 billion, up 1.8% on 2021. Private telecoms were up 14.8% to almost €7 billion while private use IT was down 11.5% to €3.7 billion. Other consumer electronics were down 4.2% to €3.7 billion.
TVs saw sales value of €1.5 billion (-9.6%) with unit sales down 16.8% to 2.2 million although ASPs for TVs rose by 8.7% to €688.
Core wearables, such as fitness trackers and smart watches, grew in sales by 9.5% to €629 million. The number of items rose by 1.8% to more than 3.2 million. The average price also rose by 7.6% to €193. The smartphone division recorded an increase in sales of 16.1% to almost €6.2 billion in the first half of 2022. The number of units sold rose to almost 10.2 million devices (+ 4.0%) and the average price rose by 11.6% to €605.
The product segments desktop PCs (- 13.5%), notebooks (- 10.1%) and tablet PCs (- 14.7%) recorded significant sales declines. Due to the increased average prices for desktop PCs and tablet PCs, the decline in sales of these products was less than the respective decline in the number of units. The monitors also showed negative figures for sales (-11.8%) and number of items (-20.0%), but with an increased average price (+10.3%).
What We Think
Oh, what a happy place the TV market would be if other consumers spent like the Germans on TV sets!(BR)
