Setting New Standards
The Autumn Edition of the Hong Kong Electronics Fair 2004 registered another record-breaking performance, as 2,029 exhibitors from 23 countries and regions showcased their latest products at Asia's largest and most comprehensive electronics industry event.
Running from October 13-16 at the Hong Kong Convention and Exhibition Centre, the fair attracted more than 53,770 buyers from around the world who came to check out the very latest in product trends.
The region's main electronic components and parts sourcing event, electronicAsia 2004, again ran concurrently with the Hong Kong Electronics Fair (Autumn Edition) and attracted more than 550 exhibitors from 14 countries and regions.
"The fair was bursting at the seams, reflecting both the world's insatiable interest in electronics and Hong Kong's bullish performance in electronics exports," says Anne Chick, senior exhibitions manager of the Hong Kong Trade Development Council (TDC), the event organiser.
Among the many exhibits on display, all conveniently under one roof, were audio and visual products, electronic accessories, home appliances, multimedia products, personal electronics/multi-products, security products and telecommunications products.
Hot electronic items in demand by buyers for 2005 are environmentally friendly and slimline products, according to independent market survey company Oracle, which inter-viewed 708 buyers and 420 exhibitors at the fair on behalf of the TDC.
"Survey results showed an average 70% of respondents said 'green' electronic products were growing popular in their markets, with Europeans and North Americans identified as among the 'greenest'," Chick explains. "Findings show that popular criteria for sourcing green products are energy efficiency, environmentally friendly packaging, and recyclable materials."
The survey also found that slimline and flat screen television sets, such as LCD TVs and plasma TVs, were popular items and buyers expect these to replace traditional CRT TVs in 4-5 years.
LCD TV is widely regarded as the mainstream TV product for the future as the price of flat screen TVs is expected to become more affordable in 3-4 years, the survey found.
Other results from the survey confirmed a positive outlook for the electronics industry, with nearly 80% of respondents expecting 2005 to be better or slightly better than 2004. The number of orders and quantity per order were also said to be higher for 2004 than for 2003.
The fair played a strong part in boosting industry sales as the TDC brought 62 quality buying missions to the event, representing close to 3,000 buyers spanning Asia, West Europe, Central America and new markets like Eastern Europe, North Europe and the Middle East.
Reflecting the worldwide appeal of the fair, VIP buyers came from all corners of the globe, including such top names as Circuit City, the second-largest US electronics retailer, and Concern Soyuz Group, Russia's largest chain store.
The high level of buyer interest at the fair mirrors a surge in the industry in Hong Kong, which expects to post double-digit growth in electronics exports this year.
Indeed, in the first eight months of 2004, Hong Kong's electronics exports leapt by 25% to US$72.6bn and were the largest merchandise export earner, accounting for more than 40% of Hong Kong's total exports.
The Electronics Fair saw the return for the second year of the highly popular Hall of Fame, which offered more than 190 brand names and top-of-the-line products in an exclusive and expanded area.
First-time exhibitor M Bux Electronics Ltd used the opportunity to showcase its new Buxtron brand of digital products such as plasma TVs, home theatre systems, LCD monitors and DVDs with TFT screens.
"This is definitely a must-attend event in the electronics industry's calendar and is ideal for businesses like us to promote new products and meet existing and potential customers," says director Naresh T Narwani.
Other favourite features at the fair included Frontiers of Brainpower, which brought together Hong Kong's elite research institutes and incubator companies to display new and innovative electronic projects and prototypes.
A wide range of seminars available to fair attendees provided essential market intelligence, covering such important areas as Bluetooth, supply chain financing solutions, Chinese mainland and international product certification, and the latest market information and industry trends.
Industry experts predict the major development of Bluetooth over the next few years will be in the transmission of phonetic data, applications in automobiles and eventually in home appliances.
With such rapid changes in the electronics industry and the cycle of product development, manufacturing and marketing becoming shorter and shorter, it has never been more important for manufacturers and buyers to stay abreast of market trends.
All vital reasons not to miss out on the second Spring Edition of the Hong Kong Electronics Fair 2005, to be held from April 14-17, 2005 at the Hong Kong Convention and Exhibition Centre.
WRITTEN BY SANDRA JENNER