Front End | News
Pandemic to trigger $14.2bn revenue loss in European consumer electronics sector
T
he COVID-19 crisis has triggered a huge shift in consumer spending, which directly impacted the consumer electronics industry. With reduced incomes in times of economic turmoil, consumers choose to buy necessities such as groceries and household goods and avoid non- essential, big-ticket purchases like LCD TVs and new smartphones.
According to data presented by
Finaria.it, the European consumer electronics industry revenue is expected to amount to $213.8bn in 2020, a $14.2bn plunge amid the COVID-19 outbreak. The European consumer electronics segment has witnessed a steady growth in recent years, with revenues rising from $208bn in 2012 to $227.9bn in 2019, revealed Statista data.
However, with supermarkets and showrooms of leading brands shut down during the COVID-19 lockdown and Europeans prioritizing their spending, the sales of consumer electronics products slumped in the fi rst half of 2020. Despite the global increase in demand for computers and laptops due to remote working and distance learning, the revenue of the computing segment is expected to drop by 6.3% YoY to $55.9bn in 2020. Statistics show that phone sales in Europe, including landline phones, mobile phones, and smartphones, is expected to generate $106.2bn in 2020, a 6.3% decrease amid the COVID-19 outbreak. TV, radio, and multimedia segment are set to witness a 6.1% drop year-over-year, with revenues falling to over $49bn in 2020. TV peripheral devices market follows with
With millions of consumers shifting from brick- and-mortar stores to online shops, e-commerce became the key driving factor of the consumer electronics market in 2020.
$1.8bn in sales, 1.7% less than a year ago. The average revenue per user in the European consumer electronics segment is expected to drop by 6.3% YoY to $252.1 in 2020. In the next fi ve years, this fi gure will jump to $282.3. Statista data revealed that Europe’s consumer electronics industry is expected to recover in the next two years, with revenues rising to over $230bn in 2022. By the end of 2025, this fi gure will touch almost $240bn.
GD Rectifi ers acquires Harmsworth Townley & Co G R
D Rectifi ers Ltd has announced the completion of its acquisition of Harmsworth Townley & Co Ltd (Power Semiconductors/
Electronics Division), a UK distributor of high power semiconductors across the industrial, communications, consumer and medical device markets.
As part of the acquisition, GD Rectifi ers has acquired the Harmsworth Townley business, product portfolio and customer database. Discussing the completion of the acquisition, Paul Bentley, Managing Director at GD
Rectifi ers said: “Today marks a signifi cant step forward for GD Rectifi ers as we embark on an exciting new chapter and welcome customers
from our friends Harmsworth Townley to join us along the way. We’re excited to add to our extensive product portfolio and looking forward to what the months ahead will bring.” “We’re one of the UK’s favourite independent distributors of power electronics and are looking forward to welcoming Harmsworth Townley’s customers in to our family. We pride ourselves on our relationships with our customers, we know everything about them, some from humble beginnings and the challenges they’ve faced along the way, to new innovative designs
and upcoming projects and priorities. We’re committed to continuing to offer competitive pricing, expert technical support and fast delivery to all of our customers.” GD Rectifi ers will leverage our collective technological capabilities, product portfolio, and sales channel access to create increased value for customers. Customers will benefi t from the breadth of the Harmsworth Townley & Co portfolio, which will provide enhanced, differentiated capabilities in more markets, delivering greater industry access and increased growth opportunities.
Rolls-Royce and Infosys partner for aerospace engineering in India
olls-Royce, an aerospace and defence technology company, and Infosys, who work in digital services and consulting, signed a strategic partnership for
sourcing engineering and R&D Services for Rolls- Royce’s Civil Aerospace business. As part of the overall partnership, Rolls-Royce will transition a signifi cant part of its engineering centre capabilities for Civil Aerospace in Bengaluru to
Infosys. Leveraging its expertise in core engineering services, digital transformation capabilities, and Rolls-Royce product knowledge acquired through the partnership, Infosys will provide a full range of high- end engineering and R&D services integrated with advanced digital service to Rolls-Royce. Speaking about the partnership, Kishore Jayaraman, President, Rolls-Royce India & South Asia, said, “India has grown to become a key contributor to the Rolls-Royce global engineering ecosystem, delivering high levels of technical capability to support a broad range of complex business demands. Our vision is to continue this high capability engineering work in India, in partnership with Infosys. Infosys has been a valued partner to Rolls-Royce for many years, and we now look forward to building on this strategic partnership to secure the full range of our engineering capabilities
6 December/January 2021 Components in Electronics
here, while ensuring future growth potential for our engineering talent. We are committed to India and remain positive about the long-term prospects in this market.”
Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, Infosys, said, “We have always believed it is important to integrate the physical knowledge of a product with digital capabilities like Industry 4.0, additive manufacturing, and predictive analytics. The Rolls-Royce engineering team at Bengaluru has been at the forefront of these innovations, and we are delighted to welcome them to Infosys. We have had a long and fruitful association with Rolls-Royce and are looking forward to supporting the company in addressing
Civil Aerospace industry challenges. We are confi dent that this excellent talent will be a great addition to Infosys’ deep experience in turbomachinery. We look forward to continuing to deliver industry leading solutions to our clients in the aerospace and defence sectors and beyond, while providing a great career path to our new colleagues within a rapidly growing ecosystem.” Over the past decade, Rolls-Royce established a multidisciplinary engineering centre in Bengaluru, which covers a mix of engineering capabilities spanning the full range of sub-functions and specialisms in R&D. Going forward, Rolls-Royce will continue these complex engineering activities in India in partnership with Infosys.
www.cieonline.co.uk
In 2019, online sales generated 29% of the combined revenue in the European consumer electronics segment. This fi gure is expected to rise to 33% in 2020. By 2023, online shops will account for 37% of all consumer electronics sales in Europe. Germany represents the largest European consumer electronics market, with 87 consumer electronics chains and $29.3bn in revenue in 2020, an 8.1% drop year-over-year. The United Kingdom ranked second with 61 consumer electronics chains and $28.8bn in sales, 2.7% less than a year ago. France and Spain follow with $24.9bn and $10.8bn in revenue in 2020, respectively.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54
