BMI View: We have made a downward revision to our forecast for Venezuela’s IT market in the Q4 2013 following a downgrade of the economic growth outlook by our Country Risk team. There are downside risks from the uncertainty of the political and economic situation following the death of Hugo Chávez. Furthermore, the devaluation of the bolivar in February 2013 has raised the cost of imported products, which we expect to squeeze unit shipments, particularly at the high end of the market. While there are many challenges for IT market growth, BMI continues to point to opportunities in Venezuela. It …
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