penetration

These modest purchases, say local retailers, wouldn’t have been possible a few years ago when logistics and digital-channel penetration were weak.

These modest purchases, say local retailers, wouldn’t have been possible a few years ago when logistics and digital-channel penetration were weak.

Smartphone market penetration in the kingdom stands at over 98 percent, while internet penetration stands at nearly 98 percent, both well above the global average, according to PwC.

“The state of internet penetration in China means the AI application layer has the potential to progress more quickly than in the rest of the world,” Bernstein said in a note.

Mr Whittaker said streaming was where the growth was for broadcasters - even though with established streamers "the penetration rates have started to level off in the past couple of years" in the UK.