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Malaysia reports double-digit expansion in tech consumer goods: GfK

AvantiKumar | Aug. 27, 2012
Latest tech gadgets encourage positive Q2 2012 performance in tech consumer goods sector of five Southeast Asian countries: GfK Asia

Selinna Chin_GfK Malaysia (cwm) modified

PHOTO - Selinna Chin, GM, GfK Malaysia.

 

Malaysia scored the highest growth of 17 percent in revenue, while Indonesia, Singapore, Thailand, and Vietnam also managed to grow between two and eight percent in value over the last year, according to research firm GfK's latest Technical Market Index [TEMAX] report.

Speaking on 24 August 2012, GfK Malaysia general manager, Selinna Chin, said: "The Malaysian Technical Consumer Goods (TCG) market performed well in the second quarter of 2012 with a total value of RM5 billion [US$1.61 billion] and 16 percent growth in sales from quarter two of 2011. Most sectors posted healthy growth from the same quarter the previous year. The best sector had to be the Telecommunications (telco) sector, followed closely by Major Domestic Appliances (MDA). Both sectors achieved healthy double-digit growth."

"Malaysia's outstanding quarter two earnings was a result of the buoyant performances posted by six of the seven TCG [tech consumer goods] segments in the country," said Chinn. "Telecommunications, Office, and Major Domestic Appliances in particular saw a value growth in the double-digit range of 38, 17 and 15 percent respectively."

She said information technology was the only one out of the seven segments that stayed in the black across all the countries with growth reported in the range of eight to 30 percent. According to TEMAX, heightened demand for the latest tech gadgets has raised the market worth of the IT segment significantly, especially in Vietnam, Indonesia and Thailand, where revenues swelled by 30, 29 and 11 percent respectively.

"A noteworthy observation is the fact that every single one of the tracked market in the region managed to report expansions in their respective technical consumer goods sector," said GfK Southeast Asia managing director, Stanley Kee. "Even the recovering economy of Vietnam managed to turn in two percent growth-an improvement from its previous quarter performance which was in the red."

Telecommunications continued to grow at a rapid rate. With Singapore and Malaysia reporting exponential growth levels of 52 and 38 percent, the segment boasts the top two highest growth levels achieved among all the TCG segments, said Kee.

"Consumers eager anticipation and fervent adoption of the latest technology in smartphones and tablets have been substantially boosting earnings in Telecommunications and IT in the past one year or so," he said. "Although we are observing slowing growth rates in some markets, these two TCG segments will continue to hold great potential for continued strong growth in the near future."

GfK TEMAX (Technical Market Index) is a quarterly index to track Technical Consumer Goods markets in more than 30 countries worldwide. For details of each country's performance, visit www.gfktemax.com.

 

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