BMI View: The weaker consumer outlook in Brazil resulted in a minor downward revision to our forecast in the previous update. However, most IT companies reported continuing and even strong growth in Q213. We believe the weaker currency and consumer outlook should not obscure the strong underlying growth story for the IT market over the medium term. We forecast Brazil IT market spending will reach BRL53.5bn in 2013, an increase of 9.6% from BRL48.8bn in 2012. Growth is being sustained by several trends, including a booming first-time buyer and upgrade/replacement market for PCs, strong demand for tablets (including procurements for …
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