Broadcasting
Smartwatches to Grow by 15.1% in 2018 – IDC
International Data Corporation (IDC) has said that Worldwide shipments of wearable devices is on track to grow 15.1% in 2018, totaling 132.9 million units over the course of the year.
The overall market is also expected to deliver a compound annual growth rate (CAGR) of 13.4% over the next five years, culminating in 219.4 million units shipped in 2022, according to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
With cellular connectivity on the rise and shifting consumer preferences, IDC believes smartwatches will account for almost two out of every five wearable devices shipped in 2022.
Jitesh Ubrani, senior research analyst for IDC Mobile Device Trackers, said “Consumers are finally starting to understand and demand the utility of a smartwatch,”
“At present, fitness uses lead by a mile but mobile payments and messaging are starting to catch on.
“The addition of cellular connectivity is also starting to resonate with early adopters and looking ahead the emergence of new use cases like music streaming or additional health sensors will make cellular connectivity pivotal to the success of the smartwatch.”
Ramon T. Llamas, research director for IDC’s Wearables team, said “The appetite for wristbands and basic watches will not go away,”
“Both products will enjoy sustained popularity as users’ first wearable thanks to their simplicity and lower price points and will reach new audiences as part of digital health solutions (wristbands) or for those who want wearable technology but prefer the traditional look and feel of a hybrid watch.”
With watches and wristbands in the spotlight, wearables in other form factors will capture a minority share of the market, although this share will continue to grow during the forecast period.
Earwear and clothing are expected to be the leading underdog categories as smart assistants slowly become indispensible and are incorporated into headphones and as athletes and workers adopt sensor-laden clothing.
Category Highlights shows that over half of all smartwatches in 2017 were shipped by Apple, and while the company will maintain its lead in this category, competing products from the likes of Fitbit, Garmin, and all the Wear OS (previously Android Wear) vendors will gain traction over time.
Another growing sub-segment within this category are smartwatches dedicated to kids, though these will largely be relegated to China.
Smartwatches are also expected to have the highest average selling price and are forecast to account for more than two-thirds of the dollar-value of the entire wearables market.
Basic watches are expected to grow over the course of the forecast with a CAGR of 16.4% as new vendors and fashionable designs drive the category forward.
However, the category does face challenges as vendors have struggled to educate users around the benefits of these devices.
Many consumers still view these devices as timepieces rather than as wearables that are part of a larger ecosystem and as a result IDC expects this category to remain secondary to their smarter counterparts.
The low-cost, commoditized hardware of basic wristbands will continue to hold their place in emerging markets.
These wearables are expected to account for 22% of all wearables shipped in 2022, down from 36% in 2018.
However, the ease of use and overall accessibility of these devices positions them as the perfect starter device for the remainder of the wearables category.
Earwear wearables are forecast to ship 13.3 million units by the end of 2022 with a 48.0% CAGR from 2018–2022.
With the rise of smart voice-enabled assistants, hardware developments from chip makers like Qualcomm, and the growing popularity of wireless headphones, IDC anticipates this form factor to be the most popular outside of wristbands and watches.
Sensor-laden clothing is on track to grow from 2% share in 2017 to 5.3% share by 2022.
To date, this category has been driven by step-counting shoes from the likes of Li-Ning or Under Armour that mostly cater to average consumers.
However, going forward, IDC anticipates other, niche brands to start gaining traction as they target professional athletes or enterprise workers in hazardous environments.
The Others category, devised of lesser known wearables, such as those that can be clipped to different parts of the body or head-worn devices like the Muse headband, or even smart wristbands (ones that can run third party apps), is expected to maintain a very small portion of the overall market.
The non-standard form factors will make these devices a tough sell to the mass market, but their ability to cater to very specific needs may make them a somewhat lucrative business.
Yemisi Bamgbose, executive secretary of the Broadcasting Organisation of Nigeria (BON), has faulted the decision of the Federal Competition and Consumer Protection Commission (FCCPC) to review DStv and GOtv subscriptions.
In a statement on Monday, Bamgbose said the commission had remained silent following the increase in prices of goods and services by big firms and companies — but intends to review prices of the pay-tv.
“I would have given FCCPC a thumb up if they had been intervening on price matters, most especially those that have direct bearing on the livelihood of the masses,” Bamgbose said.
“If the mandate of FCCPC includes price control of goods and services in a free and deregulated economy, where was the organisation when Bakers Association in the country increased the cost of a loaf of bread more than 200% in the last one year.
“I doubt if FCCPC was aware that a sachet of pure water has been increased from five naira to twenty naira the last one year. Is the organisation on vacation?
“Perhaps the organisation is on leave when bottling companies in the country astronomically increased the cost of malt and other soft drinks. I was surprised that FCCPC didn’t call stakeholders meeting to review the new prices.
“Perhaps the cost of a bag of cement has not been increased from four thousand Naira in the last one year. That must be the reason why FCCPC did not deem it fit to invite Dangote, Bua and Lafarge cement manufacturers with relevant stakeholders to discuss the more than 100% increase on a bag of cement.
“Aviation sector, on a daily basis, increases the cost of domestic flights. This also has not attracted the attention of FCCPC.
“In the education sector, I was wondering why FCCPC could not call for the review of the cost being charged by private educational institutions especially those charging in dollars in a country where Naira is the legal tender.”
According to Bamgbose, if other services are allowed to increase their prices, MultiChoice should also have the freedom to determine the price of its products to maintain high-quality service.
She added that the choice of whether or not to subscribe to the service should be up to the consumer.
The secretary said subscription television is not an essential commodity and those who cannot afford the services of MultiChoice or any pay TV can decide not to subscribe.
“Anyway, on the part of broadcasting, I want to assume that FCCPC does not know what goes into the business of broadcasting, perhaps, that could inform the decision of the agency to plan the proposed review of the increase in the price of DSTV and GOTv pay TV channels respectively,” she said.
“There are free to air stations such as NTA, RADIO NIGERIA, AIT, SILVERBIRD CHANNELS, STATE OWNED RADIO AND TV STATIONS, PRIVATE RADIO STATIONS etc where consumers don’t pay to listen to radio or watch television.
“There are subscription channels such as MULTICHOICE, GOtv, TNtv, STARTIMES etc where viewers pay to watch and listen. There are choices.
“During Covid-19 pandemic, stations burnt diesel without adverts or other sources of revenue for more than twelve months in national interest.
“The cost of diesel rose from two hundred naira per litre in 2021 to one thousand seven hundred per litre in 2023/24, and broadcast stations have to transmit for twenty four hours changing from one generator to the other.
“None of the national stations such as Channels TV, Arise, TVC, AIT, Silverbird, and NTA, amongst others, commits less than one hundred million Naira on diesel on monthly basis to keep their mandate of information, education and entertainment.
“It may interest the public to know that many, if not all, of the national radio and television stations in Nigeria have not been able to break-even since 2020 when the nation’s economy was shut down as a result to Covid-19 pandemic.
“Why? Each network station that transmits 24 hours consumes not less than twelve thousand litres of diesel per week. In Nigeria, we want everything free.
“For MultiChoice to provide coverage to the nooks and cranies of the country, it maintains over three hundred sites powered with diesel generating sets in each of the sites.
“The public should also know that these PAYTV companies purchase all these contents that subscribers watch at the comfort of their homes and offices.
“Those who can not afford the services of MultiChoice and indeed any pay TV can decide not to subscribe, afterwards, there are many free to air television channels and content on satellites OVER THE TABLE (OTT) that can be accessed through free to air decoders and wifi.”
Recall that on April 24, Multichoice Nigeria announced an increase in the cost of subscriptions for its DStv and GOtv packages.
The pay-tv firm cited the rise in cost of operations as the rationale behind the price increase.
Competition and Consumer Protection Tribunal (CCPT) sitting in Abuja has restrained Multichoice Nigeria, a -TV operator, from implementing the DStv and GOtv subscription prices hike it announced last week
The interim order was sequel to an ex-parte motion filed before the court by Ejiro Awaritoma, counsel to the applicant, Festus Onifade.
The three-member panel of the Competition and Consumer Protection Tribunal, presided over by Saratu Shafii, issued the order on Monday.
Recall that THE management of Multichoice Nigeria Limited last week announced a fresh hike in the prices of subscriptions for its DStv and GOtv packages.
The fresh prices hike came barely four months after the previous fee adjustment.
According to an email sent to customers, the new prices on its DSTV and GOtv packages would take effect on Wednesday, May 1, 2024.
But Onifade. in a suit marked: CCPT/OP/2/2024, had dragged MultiChoice Nigeria Limited and the Federal Competition and Consumer Protection Commission (FCCPC) before the Competition and Consumer Protection Tribunal
Onifade in the suit filed on April 29 sought “An order of interim injunction of this honourable tribunal restraining the 1st defendant, whether by themselves, her privies, assigns by whatsoever name called from going ahead with impending price increase schedule to take effect from 1st May, 2024, pending the hearing and determination of the motion on notice
“An order restraining the 1st defendant from taking any step(s) that may negatively affect the rights of the claimant and other consumers in respect of the suit pending the hearing and determination of the Motion on Notice.”
In its ruling, the court restrained MultiChoice from implementing the announced prices increment, pending the hearing and determination of the motion on notice filed before it.
The court ruled that “The 1st defendant is hereby restrained from taking any step(s) that may negatively affect the rights of the claimant and other consumers in respect of the suit pending the hearing and determination of the motion on notice.”
The court directed all parties in the suit to appear before it on May 7 at 10am for the hearing and determination of the motion on notice.
The three-member tribunal chaired by Saratu Shafii, delivered the ruling on Monday on an ex-parte motion marked CCPT/OP/2/2024 and filed by Festus Onifade through his lawyer, Ejiro Awaritoma.
Onifade had sued Multi-Choice Nigeria Ltd, and the Federal Competition and Consumer Protection Commission (FCCPC), accusing the former of unjustly increasing subscription fees.
LG Electronics, a global leader in technology and innovation, is delighted to announce the launch of the highly anticipated K-POP Fiesta contest in Nigeria.
This exciting event offers fans a unique platform to showcase their passion for Korean pop music and dance, while providing an opportunity to engage with fellow enthusiasts from all corners of the country.
The contest will be to four major cities in Nigeria, including Lagos, Abuja, Port Harcourt, and Ibadan. The K-POP Fiesta contest aims to bring the electric energy and vibrant culture of K-POP to Nigeria, a country known for its love of music and dance.
The K-POP Contest invites talented individuals and groups to contest in various categories, including singing, dancing, and performance. As part of its commitment to fostering cultural exchange and embracing diversity
“We are excited to bring the K-POP Contest to Nigeria and provide a platform for talented individuals to shine,” said Mr. Hyoungsub Ji, Managing Director at LG Electronics West Africa.
“By taking the contest to multiple cities, we aim to reach a diverse range of participants and celebrate the rich cultural exchange between Korea and Nigeria. Contestant will have the opportunity to win exciting prizes and recognition for their talent”.
“We are thrilled to bring the K-POP Fiesta contest to Nigeria, a country with a rich musical heritage. This event is a testament to LG’s dedication to providing unique and exciting experiences for our customers. We believe that K-POP has the power to unite people from different backgrounds and create a sense of joy and unity.” Mr. Hyoungsub added
The K-POP Contest tour will kick off in Ibadan on the 2nd and 3rd of May, where fans can experience the electrifying energy of K-POP through dance and singing competitions, and also interactive experiences. From there, the tour will travel to Lagos, Port Harcourt, and Abuja, giving aspiring performers in each location the chance to showcase their talent on a grand stage at the finale which will take place in Lagos sometime in June.
The K-POP Fiesta contest will provide participants with a platform to showcase their talent, creativity, and love for K-POP. Participants will have the opportunity to compete in various categories, including singing, dancing, and even creating their own K-POP-inspired music videos. The contest will be judged by a panel of industry experts, ensuring a fair and unbiased evaluation.
Three winners in music and dance will emerge at the regional contest in these four cities with five hundred thousand naira up for grabs while the winner at the grand finale gets two million naira plus other exciting prizes.
In addition to the contest, attendees will also have the opportunity to experience LG’s latest innovations in entertainment technology. From high-quality sound systems to immersive displays, LG continues to push the boundaries of what’s possible in entertainment and lifestyle.
LG Electronics is committed to supporting and nurturing talent in Nigeria, and the K-POP Fiesta contest is just one of the many initiatives undertaken by the company to empower individuals and encourage artistic expression. By bringing the K-POP phenomenon to Nigeria, LG aims to create a memorable experience for both participants and fans alike.
To participate in the K-POP Fiesta contest, fans can register online at https://www.lg.com/africa/LG-Kpop-Fiesta or Join the conversation on social media (Instagram) using the hashtag #LGKPOPNigeria.
The contest is open to all K-POP enthusiasts in Nigeria, regardless of age or background.
The event had in attendance Management of LG Electronics, Nigeria Video Jockey & TV Presenter, V.J Adams, Akunna Okechukwu, 2021 Nigerian Idol finalist, among others.
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