|Friday, 16 October 2015, 20:00 HKT/SGT|
|Survey: Optimistic outlook for China Market|
Smart Tech Expected to Drive Industry Growth
HONG KONG, Oct 16, 2015 - (ACN Newswire) - The 35th HKTDC Hong Kong Electronics Fair (Autumn Edition) and the 19th electronicAsia, which together form the world's largest electronics marketplace, concluded today. Held concurrently over four days at the Hong Kong Convention and Exhibition Centre (HKCEC), the Electronics Fair was organised by the Hong Kong Trade Development Council (HKTDC) while electronicAsia was jointly organised by MMI Asia Pte Ltd and the HKTDC.
|Electronics Fair And electronicAsia Conclude In Hong Kong|
Watch our fair video here https://youtu.be/kCQMlbTaYFQ
The two fairs attracted a total of around 96,000 visitors from about 150 countries and regions, with buyers taking full advantage of Hong Kong's unique competitive edge in the exhibition industry, demonstrating the fairs' leading position as the largest electronics marketplace in the world. More than 66,000 buyers visited the Electronics Fair while around 30,000 visitors attended electronicAsia.
Marching forward in uncertain times
"With many economic uncertainties, including the United States' pending interest rate hike, the deceleration of China's economic growth, and the depreciation of a number of currencies in Asia, the export situation ahead would become more challenging," said Benjamin Chau, HKTDC Acting Executive Director. "But from the response these exhibitions received, we can see that both exhibitors and buyers realised they have to march forth during tough times. The exhibitors need an effective platform to promote their products, and the buyers need to source the most competitive items for their markets. This is the only way to break through the competition under the current environment."
On-site Survey: Electronics industry optimistic about future prospects
During the fair period, the HKTDC commissioned an independent survey by the Nielsen Company (Hong Kong) Limited. Some 1,040 exhibitors and buyers were interviewed about the outlook for the electronics industry and new product trends. The survey revealed that respondents were generally optimistic about the prospects for the year ahead. About 84 per cent of respondents believe that the industry's prospects next year will be better than, or the same as this year. And 88 per cent of the buyers believe that product retail prices will increase, or remain the same, as this year.
Most respondents think the Chinese mainland remains a promising market, with 86 per cent of them holding a neutral or promising view, and 52 per cent taking a very promising or promising view. Other neutral or promising markets, according to respondents, are North America (85%), Western Europe (83%) and Hong Kong (83%).
The survey also sought views on trends and consumers' habits towards electronics products. Most of the respondents believe that mobile devices and accessories have the highest growth potential in the year ahead, followed by audio visual products and smart home or smart living products. Some 76 per cent of respondents believe that consumers will make more online purchases, and 70 per cent said that with limited budget, consumers will buy fewer products but opt for those of better quality. Furthermore, 72 per cent believe that consumers will be more willing to try new brands, which reflects that manufacturers may consider building their own brands in order to maintain a share of the market.
Local brand Microdia, an exhibitor in the Electronics Fair's Hall of Fame, featured USB adapters that allow users to connect multiple smart devices. Louis Leung, Founder, President and CEO of Microdia, said buyers are very interested in their products, and six Apple stores and resellers expressed their intention to buy on the first day of the fair, with total orders worth US$5 million under negotiation.
Bright prospects for smart and energy-saving devices
The Internet of Things (IoT) and smart technology were the focus for this year's Electronics Fair. As more exhibitors released smart products incorporating IoT technology, the HKTDC added a new product zone, Smart Tech, this year and organised the international conference "IoT Revolution - How does it benefit your Business?". Experts from around the world gathered for the conference to discuss IoT trends. The on-site survey found that, within the array of smart home products, the respondents expect wireless systems that connect to the Internet or mobile network, wireless charging devices for smart appliances, and smart devices for energy management or saving purposes hold the most promise in the year ahead.
Evan Li, Channel Director, B2C BU of Haier Computer Overseas Department, Haier International (HK) Limited, an exhibitor in the Smart Tech zone, said the company exhibited at the fair for the first time and buyers expressed interest in their products. "The fair provides an ideal channel for us to introduce our IT products and solutions to buyers from all over the world," he said. "Apart from meeting existing customers to discuss new orders, we have also found about 10 potential buyers who are retailers and wholesalers from Africa, Asia, Europe and the US on the first day of the fair."
Pablo Romano, Commercial Director of Kilin SA from Argentina, said this was his first time to attend the Electronics Fair and he was interested in different types of smart products. He said: "It is easy to do business here because I can find a comprehensive range of electronic products that fulfill my requirements. I have already placed an order for smartphones and tablets worth US$150,000. In addition, I have found 10 to 12 potential suppliers of power banks, DVD players, GPS, gaming products and mini audio systems. The business-matching service provided by the HKTDC is highly effective and helps me find the right people to discuss business co-operation. I would like to come again next year."
Giant robot attracts attention
Besides smart technology, this year the HKTDC launched another new zone, Robotics & Unmanned Tech, showcasing a number of new robots and drones. Hugebot, a seven-foot-tall (2.13 metres) gaming robot made by Human-Robot Technology Co from Hong Kong, joined the Electronics Fair for the first time, and attracted large crowds with its ability to track the user's motion and do battle. Nicom Lai, CEO and Founder of the company said, "With assistance from the HKTDC, our Hugebot was covered in local TV news programmes and newspapers. As a result, a lot of buyers were attracted to our booth. Many buyers from the Chinese mainland, Europe, UAE and the US made enquiries about our robot and we have received on-site orders from some buyers already."
Business matching a success
The HKTDC also organised numerous product demonstration sessions and provided business-matching services, linking up exhibitors and buyers for more trade opportunities. Henrique Saymon, Product Manager of ibyte, Brazil, came to Hong Kong for the first time to attend the fair. He said the business-matching service organised by the HKTDC helped him locate the right suppliers. He found four potential suppliers of Bluetooth speakers, gaming mouse, keyboards and TV mounts, and will place an initial order for 3,000 pieces per item. He would make a repeat order for 9,000 pieces if the products sell well.
electronicAsia, on the other hand, is an important purchasing platform for tech hardware in the electronics industry, synergizing with the Electronics Fair to provide new ideas and components for the industry to develop new products. Simon Barber, Sales Manager of Microwave Solutions Ltd from the UK, believes that the exhibition is a perfect place to expand their business in Asia. He said: "We're very pleased to be here again this year to meet with more customers. On the first day of exhibition, we've already established contacts with 25 potential customers from different places such as India, Chinese mainland and Taiwan. The response was even better than last year."
South African buyer Mohammed Hassim, Director, Communica (Pty) Ltd, sources various products including LCD displays and components for IoT applications, home automation and telecom devices. "We expect to find 15 to 30 new suppliers this time and conclude an initial amount of orders worth at least US$50,000 to US$80,000 for different products," he said.
HKTDC Hong Kong Electronics Fair (Autumn Edition): http://bit.ly/1yaBMWx
Photos download: http://bit.ly/1NfOIj9
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
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Topic: Trade Show or Conference
Sectors: Trade Shows, Consumer Electronics
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