Local market of electronic, home appliances and IT products goes downhill with 15 percent in Q2, 2010

The local market of long consumption goods decreased in the second quarter with 15 percent compared to the second quarter of last year, down to the value of EUR 266 million. This value is a far cry from the value of EUR 792 million that was registered in the last quarter of 2008, shows a Gfk study.

In segments such as electronics, photo cameras and home appliances, similar values were reached in Q2, 2010, with the ones in the second quarter of 2009, while IT and telecom sectors nosedived with more than 20 percent.

In the case of consumption electronic products, a slight increase of 1.3 percent was registered up to a value of EUR 55 million.

Consumers preferred video cameras and navigation systems that came at lower prices.

The photography market maintained a stable turnover of EUR 9 million, which is the same value that this market posted in the last three quarters of 2009.

In the area of small home appliances, the market continues its upward trend but still with a 1.7 decrease compared to the same quarter of last year. The market is coming over since a series of products started to grow such as devices for preparing food, electric boilers, mowing machines, devices for preparing hot drinks, electric shaving devices.

Large home appliances posted sales of EUR 70 million in the second quarter of 2010, but this market was 13.6 percent under the results posted in the second quarter of 2009. In spite of all these, sales in the second quarter of this year were higher than those in the first quarter, as a result of the summer season which boosted sales of refrigerators.

The IT sector nosedived 20.5 percent in the second quarter of this year compared to the similar period of last year reaching a value of EUR 69 million. However, the decline slowed down compared to the first quarter of the year when the market plummeted with 38.2 percent.

The second quarter of 2010 brought a slowdown in the value of the telecom hardware market of 28.5 percent compared to the corresponding period of last year, reaching a value of EUR 39 million.