Turkish technology market reaches EUR 9 billion

Hurriyet Daily News - The value of Turkey’s booming electronics market has reached EUR 9 billion, making the country the seventh largest electronics market in Europe, according to electronics retailer Darty Turkey’s CEO. The CEO of Turkish technology retailer Darty said at a press conference in Istanbul that the company’s massive 30 percent growth this year could be attributed to the opening of five new stores.

"We are opening our 21st store in December in the Avcilar district of Istanbul, and by opening five stores every year, we are fortifying our hold in the Turkish market,” said Darty Turkey CEO Nedim Esgin on Wednesday.

Darty’s Turkey operation grew by 30 percent in 2010, obtaining a 2.5 percent share in a booming technology market, said Esgin, adding that Turkey is the only country to host all four of the leading electronic chains in the world - Media Markt, Darty, Best Buy and Electro World. Because of this competition, expansion in the technology retail sector is essential.

“The volume of the electronic goods market in the world is around EUR 700 billion, and Turkey is a big component with its EUR 9 billion market. Now Turkey is the seventh biggest market in Europe, and we predict that this growth tendency will continue,” he said.

According to the CEO, the Turkish technology market will surely surpass that of the Netherlands in the next two years and rank sixth in the world, provided its robust growth continues.
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