LONDON–(BUSINESS WIRE)–
Technavio has published a new report on the smartphone market in Brazil, which is expected to grow at a CAGR of almost 21% from 2015-2019.
About the Report
According to the latest report by Technavio, the government of Brazil recently nullified two taxes, PIS/PASEP and COFINS, which were earlier imposed on smartphones. Programa de Integração Social (PIS) was applicable on the gross revenue earned by all legal entities including non-profit makers and organizations that come under the government. COFINS was a state tax paid by companies that collected taxes on value-added services.
“The exemption of these taxes will lead to a decline in the prices of smartphones, thus increasing their adoption among the cost-conscious population,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the increase in mobile banking, which is expected to impact the market positively.
“The convenience and hassle-free mode of conducting bank transactions has led consumers to prefer mobile banking. Banks have made a heavy investment in 2014 so as to promote mobile banking,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and the growth prospects of the smartphone market in Brazil from 2015-2019. To calculate the market size, the report considers revenue generated from the total unit shipments of smartphones in all the four quarters of 2014.
Key Information Covered in the Report:
- Key Vendors:
- Apple Inc
- LG Electronics
- Microsoft Mobile Oy
- Motorola Mobility LLC
- Samsung Telecommunication Business
- Market Growth Drivers:
- Tax Exemption on Smartphones
- For a full detailed list, view our report.
- Market Challenges:
- High Data Plan Cost
- For a full detailed list, view our report.
- Market Trends:
- Increase in Mobile Banking
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 100+ reports on the smartphone market:
- Smartphone Market in Japan 2015-2019
- Global Smartphone Market 2015-2019
If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20150717005017/en/
Jes Ellacott
US: +1 630 333 9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com
[email protected]
