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1、 CONSUMER ELECTRONICS IN CHINA 2009: A MARKET ANALYSIS TM Access Asia Limited, 2009 Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 1 China Contact Publication date: December 2008 Published by: Access Asia Limited UK registered office: Boyces Building, Regent Str
2、eet, Clifton, Bristol BS8 4HU, United Kingdom Telephone: +44-7977-425280 China contact address: 509 Shenxin Mansion, 200 Ninghai East Road, Shanghai 200021, China Telephone: +86-21-6374-7484 Fax: +86-21-6374-7483 Malaysia contact address: Suite C-08-03, Plaza Mont Kiara, 2 Jalan Kiara, Mont Kiara, 5
3、0480 Kuala Lumpur, Malaysia Telephone: +60-3-6203-5212 Fax: +60-3-6203-9212 E-mail: infoaccessasia.co.uk Copyright: All rights reserved to Access Asia Limited Disclaimer: Access Asia Limited has undertaken stringent efforts to ensure the accuracy of all information contained in this report. However,
4、 since not all data can be verified, errors or omissions may occur for which Access Asia Limited can accept no responsibility. Information contained within this report should only be used as an aid to assist the making of business and investment decision, not as the sole basis for such decisions. Ch
5、ina Contact (an imprint of Access Asia Limited) All rights reserved. This document is under strict copyright and any reproduction in any forms whatsoever is prohibited. No part of this publication may be reproduced, copied, stored in an electronic retrieval system or transmitted without written perm
6、ission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988. Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 2 Contents INTRODUCTION.1 Report Coverage .1 Chinas Retail Statistics: A Cautionary Note.2 The Problems With Chinese Retail
7、 Data?2 What Does All This Mean Practically?3 Figure A CHINA TOTAL key conferences and events in China and elsewhere; as well as new products, services and updates from Access Asia. Access Asia also provides free editorials on key developments in the China market, covering a wide range of sectors an
8、d issues, in order to help you keep abreast of the latest developments in the market. For more information on Access Asias free newsletter and editorials, contact us at infoaccess-asia.info or visit our website at www.access-asia.info. Consumer Electronics in China 2009: A Market Analysis Access Asi
9、a Limited, 2008 Page 8 1 Chinas Consumer Electronics Market 1.1 Overview Kenwood DVD ad in Beijing Access Asia Ltd, 2004 The total consumer electronics market in China grew by 101.4% between 2002 and 2008. Although not a fast growing market by Chinese standards, the market is still expanding by abou
10、t 9.5% per annum. The total retail value of the consumer electronics market in 2007 was RMB225.4bn (US$30bn), representing 7% of the total non-food retail market. The market is now altering very drastically, due to product and technology convergence with computer and mobile communicatins devices, wh
11、ich is changing the very nature of the market. Significantly, competition in the market is reaching unprecedented levels, making price more important than ever before. Important note: There is continued confusion regarding definitions for statistics on retail sales in China. Retail sales, as defined
12、 by the Chinese government National Bureau of Statistics (NBS), include non-retail sales from outlets including retail, wholesale and catering outlets, as well as direct from manufacturer, “other” industries and other service sectors. What retail sales in China, under the current NBS definition, amo
13、unt to, are more akin to consumer expenditure, or “individual consumption expenditure of households” (COICOP), as defined by the United Nations Statistics Division. Futhermore, there are contraditions between data on market sizes coming from the NBS, trade associations and other sources (mainly comp
14、anies). This is in part due to differing definitions of retail sales and/or consumer sales, definitions of sectors included in each market for statistical purposes and also due to official government data tending to underestimate the commercial activities of private enterprises within the economy. I
15、n this report, what we refer to as retail sales also includes some sales outside of the private household segment, including business-to-business and business-to-institution sales. Due to the lack of clarity in official data, as well as conflicts in definitions, as noted above, it is impossible, at
16、present, to give any concrete clarity as to the split between true retail sales, and other commercial transactions involving the sale of goods. However, the data in this report does provide as accurate an appraisal of the size of the consumer market for white goods in China, as well as realistic bre
17、akdowns and growth rates in the market. Access Asia, along with its research partners, shall continue to strive to develop increasingly accurate market data, as well as to work towards clarifying the contradictions in statistical methodologies and definitions used in China, in order to bring clarity
18、 to the real market situation there. Should you have any questions relating to our methodology, please feel free to contact us at the contact locations given at the beginning of this report. Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 9 1.2 Chinas Total Non-f
19、ood Market 1.2.1 Total Non-food Market: Food higher disposable incomes and increased purchasing power amongst younger consumers; the emergence of an aspirational middle class in major cities; and ever-cheaper goods produced by both local and foreign manufacturers. The result is higher non-food sales
20、 growth, particularly in the consumer electronics market televisions, DVD players, hifi systems and PCs and clothing, as consumers have increasingly spend greater amounts on more expensive clothes. At the same time, books and journal sales, though still a relatively small market, have increased shar
21、ply in value. Traditionally avid readers, Chinese consumers are taking advantage of increased leisure time and a vastly improved range of reading matter. Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 11 Sector % growth 2002-2008 Daily use articles of which 113.
22、02 - Consumer electronics (incl. computers, peripherals and mobiles) 106.42 - White goods 45.35 - Small electrical appliances 91.17 - Telecoms equipment 384.66 - Household cleaning products 94.42 - Cosmetics 153.28 - Personal goods 147.54 - Housewares 108.56 - Home furnishings brand equity (recognis
23、ed beer brands Tsingtao and Yanjing); quality (cashmere garment manufacturer Erdos); and innovation (Haiers detergent-free washing machine). Furthermore, in addition to heavy TV adspend and high-profile supplementary campaigns through outdoor advertising, major local brands are also taking advantage
24、 of better distribution of their product and extremely effective displays and promotions at the high-street level. Every weekend, promotions of consumer-goods products are held outside new department stores and shopping malls in primary cities across the country. The brand value of Chinese brands is
25、 growing. According to the World Brand Laboratory, China Mobile is the top local brand for two consecutive years, 2007-08, with a brand value of RMB120.67bn in 2008, up from RMB110.05bn in 2007. The top 10 most valuable brands in 2008 are mostly into energy, media, home electrical appliances, financ
26、e, construction, automotive, and chemical and petroleum. Haier is the top home appliance brand in China in 2008, followed by Changhong and TCL. Globally, no brands from China have made it into the Best Global Brands 2008 list released by Interbrand, a leading international brand consultancy. The lat
27、est list gives Samsung the 21st position, Sony 25th, Canon 36th, Philips 43rd and Panasonic 78th. Chinese brands like Changhong, Haier and TCL have a long way to go before they are eventually listed. Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 86 Table 2.11 C
28、HINAS MOST VALUABLE BRANDS, 2007/2008 Rank Brand/Owner Value 08 Value 07 Rank Sector 2008 (RMBbn) (RMBbn) 2007 1 China Mobile (China Mobile Communications) 120.67 110.05 1 Telecoms 2 State Grid (State Grid Corp of China) 111.64 44.90 11 Energy 3 CCTV (China Central Television) 82.43 65.43 3 Media 4
29、Haier (Haier Group) 80.13 64.00 4 Home appliances 5 China Life (China Life Insurance (Group) Co) 66.87 58.87 5 Finance 6 Changhong (Sichuan Changhong Electric) 65.59 58.33 6 Home appliances 7 Sinochem (China Sinochem Group) 65.14 58.29 7 Chemical, petroleum 8 China Railway (China Railway Group) 64.8
30、7 52.31 10 Construction 9 ICBC (Industrial Tsuneji Uchida president Toshizo Tanaka executive vice president; Hideki Ozawa president production of LBPs Canon Zhuhai 1990 Zhuhai Digital cameras, LBPs, MFPs, contact image sensors Canon Finetech Nisca (Shenzhen) 1993 Shenzhen Business machines, business
31、 machine peripherals Tianjin Canon 1997 Tianjin Personal-use copying machines Canon (China) 1997 Beijing All products Canon Information Technology (Beijing) 1998 Beijing Processing technology, e-learning systems; localization of software processing of parts Source: Access Asia from company informati
32、on Canon (China) Co Ltd was set up in Beijing in 1997 to oversee Canons operations in China. In the same year, Tianjin Canon was established to manufacture copying machines. Canon started to concentrate on setting up a sales network in China in the period between 2002 and 2005 marking a shift in pri
33、ority from investing to sales and marketing. In 2002, the Canon Marketing Asia headquarters was relocated from Hong Kong to Beijing. In 2002, Canon (China) received the permission to market 10% of all Canon products made in China. The company set up a logistics company in Zhuhai and a branch office
34、in Shanghai in 2002. The Shanghai office became the regional headquarters for eastern China in 2003. Canon established two more branch offices in China in 2003 with one in Guangzhou and one in Beijing serving as the respective regional headquarters for the southern and northern regions. In 2003, 15
35、branch offices including those in Shenzhen, Hangzhou, Wuhan, Nanjing, Chengdu and Chongqing completed their registration and were established. These offices formed the companys nationwide marketing and service network in China. The marketing operation of Canon in China was further enhanced in 2004 w
36、ith the granting of the permission to directly import and sell Canon products manufactured overseas. To promote its products, Canon set up its first flagship concept store in Beijing in 2003, followed by another flagship concept store in Guangzhou in May 2005. A unified customer service hotline was
37、set up in 2004 and the first Canon Quick Repair, Quick Response (QR) centre was opened in Beijing in 2005. Canon now has six QR centres in China (Beijing, Shanghai and Guangzhou) with a plan to increase it to 25 by 2011. The biggest Canon Communication Space in Asia was opened in Shanghai in July 20
38、08 following the opening of the first Canon Communication Space Consumer Electronics in China 2009: A Market Analysis Access Asia Limited, 2008 Page 103 in Beijing in 2006. The Shanghai centre, measuring 910 square metres, integrates product display, customer training, repair and brand promotion. Th
39、e centre also promotes the culture of photography. The centre has 12 sections including gallery, digital photography workshop, colour solution, salon photography, photographic lenses, EOS and printers. Canon Communication Space opens daily from 10am to 7pm except on Tuesday. 4.3.2 Canon: Financial R
40、esults Canon reported a 29.23% growth in net sales between 2004 and 2007 with operating profit rising by 39.15% and net income up by 42.23%. The company recorded its first US$1bn sales in China in 2007. The goal is to increase sales in China to US$10bn over the coming 10 years. Table 4.3 CANON INC.:
41、 FINANCIAL RESULTS, 2004-2007* bn 2004 2005 2006 2007 Net sales 3,467.85 3,754.19 4,156.76 4,481.35 Annual growth (%) - 8.26 10.72 7.81 Operating profit 543.79 583.04 707.03 756.67 Annual growth (%) - 7.22 21.27 7.02 Net income 343.34 384.10 455.33 488.33 Annual growth (%) - 11.87 18.54 7.25 Source:
42、 Access Asia from company information Note*: Financial year ends December 31st Europe was the biggest revenue contributor in 2005 to 2007, followed by the Americas and Japan. Other areas including China contributed 15.58% to total revenue in 2007, up slightly from 15.20% in 2005. Table 4.4 CANON INC
43、.: SHARE OF REVENUE BY REGION, 2005-2007* % 2005 2006 2007 Europe 31.47 31.62 33.46 Americas 30.52 30.88 29.82 Japan 22.81 22.43 21.15 Other areas 15.20 15.07 15.58 TOTAL 100.00 100.00 100.00 Source: Access Asia from company information Note*: Financial year ends December 31st Consumer Electronics i
44、n China 2009: A Market Analysis Access Asia Limited, 2008 Page 104 4.4 Haier Group Corp. 4.4.1 Haier: Company Details Haier Group Corp address: No 1 Haier Road, Qingdao, Shandong Province 266101, PR China Tel: +86-400-699-9999 Fax: +86-532-8893-8666 URL: Key personnel: Zhang Ruimin CEO; Yang Mianmi
45、an president. Main products: Air conditioner, microwave oven, washing machine, dish washer, refrigerator, television, mobile phone, freezer, DVD player, water heater. Qingdao Haier Co Ltd address: Haier Industrial Park, Qianwangang Road, Qingdao Eco Tech Zone, Qingdao, Shandong Province 266555, PR C
46、hina Tel: +86-532-8893-8138 Fax: +86-532-8893-8313 URL: Ticker: Shanghai SE 600690 Main products: Air conditioner, refrigerator, freezer, small appliances. Key personnel: Yang Mianmian chairman; Cui Shaohua vice chairman Liang Haishan vice chairman, general manager Hong Xiaoming chief accounting of
47、ficer Wu Kesong deputy chairman; Yip Waiming chief financial officer Yu Shumin president Liu Xin finance director; Xia Feng board secretary; Wang Junchang deputy general manager; Zhang Jiren deputy general manager; Zhan Jiajin deputy general manager. Product range: Television, digital television rec
48、eiver, information network terminal products. 4.5.4 Hisense Electric: Company Background Hisense Electric is primarily into the research, development, manufacturing and marketing of television, digital television receiver and information network terminal product. The company was listed on the Shangh
49、ai Stock Exchange in April 1997. Table 4.8 HISENSE ELECTRIC CO., LTD.: TOP 10 SHAREHOLDERS, FIRST HALF 2008 Shareholder % Hisense Group Co., Ltd. 48.40 Donghai Securities Co., Ltd. 1.08 Soochow Industry Stock Fund 0.59 Guangfa Asset Management Plan 3 0.48 Hua An Mid-Cap Kazuo Furukawa executive president, representative executive officer, chief director of manufacturing enhancement; Koushi Nagano vice president Yang Guobin chief financial supervisor; Wang Youl