9/25/2014 4:02:44 PM
GfK: Minor growth for telecommunications in August
Research company GfK’s latest figures have shown a small month on month improvement for August’s telecommunications growth value. The rise of 1.9% was driven in part by mobile enhancements the research firm said.
Smartphone volume remained negative month on month and the sectors year on year growth in value was also down by 7.8% to £2.2bn. Overall, the consumer electronics sector was the strongest performer up 15 % as key product categories remain refreshed thanks to recent innovations and launches.
Ben Tutt, GfK's senior account manager and specialist in Telecoms, said:'The value of the Telco market has rebounded in August because of a few factors. Firstly as I put in the Market-I, accessories have been growing in value terms, however not so much in volume – in short people are spending more money on their phone however for fewer items. This will be expensive headsets/headphones and also a popular item this summer has been emergency power packs driven by festival season and also the news that you might be required to have a full charge when boarding a plane.
'The other factor is that within handsets the value of the market is being supported by prepay and SIM Free smartphone sales which are fairly solid and in substantial growth respectively. This is offsetting somewhat the downward trend in the contract handset market.'