Changes in the domestic technical electronics market in 2022
Declining demand by the end of 2022 characterized the domestic technical electronics market. The global consumer electronics market experienced a challenging period in 2022. The final quarter of the year was well below 2021 levels, and as a result, total annual turnover was 9 percent below 2021.
The global decline of the sectors was different. Entertainment electronics products suffered the biggest drop, falling short of the 2021 revenue numbers by -10 percent. This was followed by the market of IT, telecommunications, and small and large household appliances, which lagged behind the least at -7 percent. The situation is similar in Hungary, but the SZJA refund at the beginning of the year still gave the market a boost. In addition, thanks to the rising currency and high import exposure, as well as due to energy prices, almost every single sector in Hungary was able to increase its income.
On the other hand, it can be said that our volumes also turned negative from the second half of the year, so that in the last quarter the income of many product groups did not even reach the 2021 level. Entertainment electronics The focus of the sector is TVs, as the performance of the entire sector largely depends on their sales. In domestic terms, the sector closed a weak third quarter. This is the dowry of the fact that the soccer World Cup did not bring the previous surplus to the market. The underlying reason may be that the postponed 2020 EB, which was held in 2021, still brought some additional traffic, but in one year there were not so many technological innovations that caused consumers to change their devices.
Related news
GfK’s German consumer sentiment index for May improved
Instead of the deterioration expected by analysts, the German consumer…
Read more >Government steps may also be taken to restrict banking and telecommunications
The government would not only intervene in the pricing of…
Read more >European Purchasing Power 2024: Hungary in 30th place
According to the latest analysis by GfK, the average purchasing…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >