What They Say
The GfU in Germany said that the market for home electronics in Germany was stable in the first three quarters of 2022 and was up just 0.1% on last year at €33.7 billion.
However, the three CE segments developed very differently: consumer electronics recorded a 7.7% drop in sales to just under €5.4 billion. Privately used telecommunications products, on the other hand, achieved sales of almost €10.5 billion with growth of 12.9%. Privately used IT products, on the other hand, declined by 10.5% to almost €5.4 billion euros.
What We Think
Separately, GfU said that it has done a deal for the IFA trade show to remain in Berlin. In the future, the event will be held by the newly founded IFA Management GmbH, a joint venture between gfu Consumer & Home Electronics GmbH and Clarion Events Ltd of the UK. (I recognised only one of the 100 or so events on the firm’s website, so this is a pretty big deal for them, I think) (BR)
