The importance of consumer electronics for Mexico cannot be overstated. The North American country belongs to the top consumer electronics markets worldwide and manufacturing of electronics and other media equipment are its fastest growing industries. Sales of consumer electronics generate 23 billion U.S. dollars in revenue annually. Electrical machinery and components were Mexico's top import, and the second largest export – preceded only by vehicle manufacturing. The city of Guadalajara in western Mexico - nicknamed “Mexican Silicon Valley” - has developed into a hotspot for software and electronics production.
Telephone sales have far outweighed the demand of other consumer electronic sales. Of these goods, mobile phones generated the highest sales with over 11 billion U.S. dollars and outsold landline devices by a wide margin. At the same time, led by the rising trends of digitization and streaming, TV sets have produced an exuberant amount of revenue for TV, radio, and multimedia sales – vastly surpassing digital cameras, speakers and headphones. Computer sales, both laptop and desktop, also belonged to the top products in the category.
Given the omnipresence of cellular phones in expediting daily life activities, it is no surprise that mobile devices play a fundamental role in the growth of the Mexican consumer electronic market. Smartphones were the main device used to access video content, for news consumption, and music streaming, among others. However, despite their unyielding demand, foreign electronic brands have far outcompeted the local products in the Mexican market. Consumers have shown to prefer brands such as TCL (Chinese) and Samsung (South Korean) over leading Mexican producer, Lanix.
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In the following 6 chapters, you will quickly find the 36 most important statistics relating to "Consumer electronics industry in Mexico".