"Mobile Phones in Venezuela" is now available at Fast Market Research

The economic environment negatively impacted volume sales of mobile phones in 2015. The blackout of information as a consequence of government restrictions drove demand for information from social networks and Venezuelans continued to demand mobile devices with internet access so as to be informed about important news items, despite the introduction of new import tariffs or more restrictive foreign exchange controls, which hampered supply in 2015. Given that the key players in the category suffered from limited imports of products due a lack of foreign currency and the decline in credit offered by international suppliers as a consequence of the high debt levels in official currency held by the government, many retailers imported small amounts of inventory from the US, China and Panama in order to supply their own stores with the most popular products, although this was insufficient to meet demand.

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Competitive Landscape

Samsung Electronics de Venezuela CA maintained its leading position in 2015, holding an overall volume share of 35% thanks to high brand recognition, but declining one percentage point compared to 2014 due to the increase in volume sales of Huawei Technology de Venezuela SA and Motorola Venezuela. Huawei focused on young consumers supporting university activities in innovation fairs and connected with consumers in social networks such as Facebook and Instagram.

Industry Prospects

Overall mobile phones is expected to decline with a negative volume CAGR of 20% over the forecast period, driven by the decline in feature phones as consumer preferences change and advanced technology becomes more affordable to consumers of all income levels. Smartphones is also expected to decline, recording a negative volume CAGR of 18%, significantly weaker than the equivalent negative CAGR of 3% witnessed over the review period as, despite consumers continuing to demand mobility as lifestyles become increasingly hectic, the lack of foreign currency to import finished products and raw materials for manufacturing continues to hamper potential growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Mobile Phones industry in Venezuela 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 Mobile Phones industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Mobile Phones in Venezuela market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products

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