BMI View: Egypt’s consumer electronics market has been hit by the deterioration of the economic environment in 2013, resulting in a downgrade to our forecast. We now expect the market to contract by 0.1% in US dollar terms in 2013, but then grow strongly over the medium term. The contraction in 2013 is the result of tightening of credit availability and a depreciation of the local currency, making imported products more expensive. We believe the effect will be strongest for bigger ticket items including TVs and PCs, while handsets will be the only segment to register growth in 2013. Looking …
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