Turkish technology market reaches EUR 9 billion

Hurriyet Daily News - The value of Türkiye’s booming electronics market has reached EUR 9 billion, making the country the seventh largest electronics market in Europe, according to electronics retailer Darty Türkiye’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 Türkiye CEO Nedim Esgin on Wednesday.

Darty’s Türkiye operation grew by 30 percent in 2010, obtaining a 2.5 percent share in a booming technology market, said Esgin, adding that Türkiye 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 Türkiye is a big component with its EUR 9 billion market. Now Türkiye 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.
turkey; Turkish electronics market; electronics retailer; technology retailer; darty; mediamarkt; bestbuy; electroworld