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S. Korea's IT spending to expand 2.4 pct in 2016

All News 11:23 January 22, 2016

SEOUL, Jan. 22 (Yonhap) -- South Korea's spending on information technology (IT) products and services is expected to grow 2.4 percent in 2016 from the previous year, data showed Friday.

Asia's fourth-largest economy is expected to spend 86.1 trillion won (US$71.4 billion) on IT products and services this year, according to the data compiled by industry tracker Gartner Inc.

Of the amount, expenditures on fixed-line and mobile network services are estimated to account for 40.8 trillion won, followed by spending on smartphones, PCs, tablets and other electronic goods at 17.7 trillion won.

Gartner said while the volatility in the foreign exchange market weighed down global IT spending in 2015, the world is expected to experience an improvement following the stabilization of the U.S. dollar.

South Korea's on-year growth hovers above the global average. The world's IT spending for 2016 is estimated at $3.54 trillion, up 0.6 percent from $3.52 trillion posted a year earlier, the data also showed.


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