Wednesday, October 16th, 2019
|Survey shows promise in Middle Eastern and ASEAN markets|
HONG KONG, Oct 16, 2019 - (ACN Newswire) - The 39th HKTDC Hong Kong Electronics Fair (Autumn Edition), organised by the Hong Kong Trade Development Council (HKTDC), and the 23rd electronicAsia, jointly organised by the HKTDC and MMI Asia Pte Ltd, concluded today. Held concurrently over four days at the Hong Kong Convention and Exhibition Centre (HKCEC), the two fairs attracted close to 67,000 buyers from 141 countries and regions. More than 50,000 buyers visited the Autumn Electronics Fair while over 17,000 visitors attended electronicAsia.
"Despite the ongoing trade friction between the United States and Mainland China and the continued social unrest in Hong Kong, the twin electronics fairs and associated events ran without a hitch. The HKTDC will continue to strengthen its business-matching services and organise buying missions to create more opportunities for exhibitors and buyers through the Hong Kong platform," said Benjamin Chau, HKTDC Acting Executive Director.
He added that the two electronics fairs saw an increase in buyer attendance from various markets, including Macao, the Czech Republic, the Netherlands, Romania, Russia, Turkey, Mexico and Iran. A wide range of renowned international electronic brands, retailers and distributors, including Brazil's elg, Canada's TDL Canada, the US's Equity by La Crosse and Walmart, Korea's Electromart (emart), Malaysia's Ions Technologies, Indonesia's depasar.com, Singapore's Champ Electronics & Systems and Thailand's Thai Habel Industrial, sourced at the fairs. Mr Chau said this demonstrates that global buyers continue to view Hong Kong as an important global trading platform for electronic products.
Survey: majority hold conservative view on market outlook
The HKTDC commissioned an independent survey during the fair period, interviewing a total of 1,055 exhibitors and buyers. The survey showed that the majority of them hold a conservative view on the outlook for the electronics industry. Fifty-five per cent of respondents expect overall sales will remain steady next year, while 25% expect sales to increase and 17% expect a decrease.
The survey respondents view Korea (62%) as the most promising traditional market with the strongest growth potential, followed by Taiwan (55%). For emerging markets, the Middle East (80%) and Association of Southeast Asian Nations (ASEAN) countries (69%) are expected to show the most promise.
Augmented and virtual reality devices show great potential
In terms of product trends, the survey revealed that three-quarters (75%) of industry players have a positive view towards augmented reality (AR) and virtual reality (VR) devices in the coming two years, of which mobile or online games have the greatest market potential.
Respondents are most optimistic regarding electronic or electrical accessories (18%), followed by audio visual products (16%) as well as computers and peripherals (12%), which are all seen as significantly more promising compared to last year.
Buyers place on-the-spot orders
As 5G technology matures around the world, with Hong Kong's 5G network scheduled to launch next year, this year's Autumn Electronics Fair aligned with the latest market trend, inviting experts to share the latest 5G technology developments at the Symposium on Innovation & Technology, as well as launching the new Nanjing 5G Pavilion at the Tech Hall to showcase the latest 5G industrial and commercial applications.
Dedicated to developing innovative medical and healthcare products through the deployment of North European technologies, MiNiSV Holding participated in the Nanjing 5G Pavilion for the first time. The company's President, Kevin Liu, said it received more than 10 orders on the first day of the fair, comprising some 5,000 product units. "These buyers are from Ireland, Spain, India and Mainland China. The biggest order came from an Irish buyer who bought 3,000 of our baby monitors. We are happy with the results so far and we'll set up a booth next year," he said.
Tuncay Gulcu, a first-time buyer from Turkey's Gulcu Security Systems, also placed on-the-spot orders at the Autumn Electronics Fair. Looking for adapters, cables and professional outdoor cameras, he was able to find four reliable suppliers and placed onsite orders worth US$50,000 with them. He added that the recent situation in Hong Kong did not affect his decision to visit the Autumn Electronics Fair. "I believe that Hong Kong is still a safe place to do business," he said.
VIISA, a venture capital company from Vietnam, found new investment opportunities in the Startup zone at the fair. Phuc Nguyen, the company's Senior Program Manager, said: "The Startup zone has brought together some really interesting start-ups from different places to showcase interesting and attractive products and solutions. We have found four start-ups from Hong Kong and the United Kingdom. Our average investment amount is around US$200,000 for each venture."
SuniWin, an importer and distributor of outdoor devices and electronic components from Taiwan, attends electronicAsia every year. Its Vice President, Michael Gong, believes the fair fulfils the sourcing needs of buyers. "We have got in touch with 13 new suppliers from Mainland China and Taiwan to source various items. The total amount for our initial orders is expected to reach US$30,000," he said.
For more comments from exhibitors and buyers, please visit: https://bit.ly/2Ci1qkm
Photo download: https://bit.ly/2VN5VuF
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.
Natalie Wong, Tel: +852 2584 4472, Email: [email protected] Kaya Lam, Tel: +852 2584 4525, Email: [email protected]