Invest in Finland

Sales of home electronics in Finland grow by 8% in 1-9/2007

14/11/2007

According to the latest index published by KOTEK, a co-operation forum of stakeholders in the Finnish home electronics industry, total sales of home electronics in the first three quarters of 2007 amounted to over EUR 1.5 billion, an increase of eight percent over the corresponding period in 2006. Almost six and half million units were sold in the same period, representing a year-on-year increase of 12 percent. 

According to Pentti Pitkänen, Trade and Services Investment Director at Invest in Finland, home electronics is one of the specialty retail branches that is showing the strongest growth in the Finnish market.

“Consumers are no longer satisfied with basic models in home electronics. The trend is to buy more valuable high-quality products with different features. Consumers are also spending more money on furnishing and equipping their homes to increase the quality of life, and this too has had a positive impact on sales. Due to these trends, we expect sales of home electronics in Finland to continue growing,” Pitkänen comments.

Over 300,000 flatscreen TVs (LCD, plasma and digital) were sold in Finland between January and September – a year-on-year increase of 105 percent. Sales of flatscreen TVs amounted to over EUR 300 million, an increase of 52 percent. Just over one million digiboxes were sold during the same period, representing an increase of over 200 percent.

Total sales of big appliances amounted to 830,000 units and EUR 336 million, while sales of small appliances amounted to 1.6 million units and EUR 88 million.