Bulgaria’s electronics market remains shaky – Business Monitor International
Bulgaria's consumer electronics market will remain unsteady in 2010 despite signals of a gradual recovery, according to global research outfit Business Monitor International (BMI) and a poll by Dnevnik among market members.According to BMI's latest revised report, Bulgaria's consumer electronics sector will generate turnover to the tune of $1.2 billion, a $200 million reduction of the end-2009 forecast. In 2009, turnover amounted to $1.1 billion, according to BMI.The market will remain tight in the first half of the year as growing unemployment and lower income press consumers, the report says.The expectations of some of the major consumer electronics chains operating on the Bulgarian market were also mixed."Indeed there was a drop in the first half of the year," said Nikolay Kitov, manager of Technomarket, blaming it on the poor shape of companies of the economy. "Individual consumption cannot keep the entire market going," he said."Recovery in the second half of the year will offset the slight decline from the first," Technopolis executive director Bozhidar Kolev said. "On an year-on-year basis, I expect an increase or at least no decrease."In June 2010, television set purchases were boosted by the 2010 FIFA World Cup.Computer equipment chain Multirama said turnover had improved in the first six months of 2010.BMI expects that sales of PCs, netbooks and accessories will hit $636 million in 2010, up 1.6 per cent on the 2009 level.