“Growth was higher in the first half than in the second last year, driven by a number of macroeconomic factors – the rise in salaries, the VAT cut, the post-election euphoria and easy borrowing terms. All these boosted consumer sentiment and led to an increase in purchases, inducing a shorter TV replacement cycle. Traditionally, TVs used to be replaced every seven or eight years now they are replaced every five to six years,” Victor Armaselu, head of the consumer electronics division of Samsung Electronics Romania told ZF.
However, the increase in TV sales in 2017 was lower than in 2016, when it stood at 35% in volume, higher than the expected up to 20%, because of macroeconomic factors and the European Football Championship and the Olympics in Rio.
The major sporting event of this year is the FIFA World Cup, but estimates do not point to spectacular increases, despite the still high growth potential on the TV market, as about 20% to 25% households in Romania still own an old CRT TV.
“Growth will be moderate in 2018, probably another about 100,000 units will be added to the 2017 level.”
Sales of TVs went up quite a lot in the first two months compared with the year-ago period, because of the weather that prompted people to go out shopping instead of staying in their homes.
Although the average price of a TV purchased stayed about the same, the number of 4K/UHD (ultra-high definition) TV sets bought is four times higher than then the number or Full HD TVs, as the technology has become more affordable.
Smart TVs generated almost 80% of the overall sales last year. (EUR1=RON4.6589)
(English version by Loredana Fratila-Cristescu)