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Sector Study: Mobile Phone Market
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Athens, November 17th, 2010


The sales volume and sales value in the domestic mobile phone market have been rising in recent years.

  • In 2009, mobile phone sales showed a small increase both in terms of quantity and value.
  • Since 2010, the majority of foreign manufacturers directly import their phones to Greece, via their subsidiaries, hence bringing their collaborations with third companies to an end.
  • Mobile network operators play an important role because, in addition to providing services, they also import mobile phones.

The latest changes and growth prospects of this particular sector are presented in the Mobile Phones sector study that was recently carried out by the ICAP Group Department of Economic Research. The mobile phone market consists of a small number of companies (distributors/importers). In Greece, there are no mobile phone manufacturing plants and the multinational corporations (the mobile phone makers) sell their products through their subsidiaries, or via third businesses which act as their distributors.

The demand for mobile phones is directly linked with the consumers' telecommunications needs and, consequently, with the respective products and services.

The mobile phone retail sales network is made up of two key categories: the retail network of mobile phone operators (which accounts for the lion's share of the market) and the retail network of electrical and electronic device chains.
Between 2007 and 2009, the domestic market of mobile phones rose slightly (as a sales value), by an average growth rate of 1%. The rate at which the sales volumes increased during the same period was higher (3.3%).

From 2009 onwards, as a result of the consumers' newly-created needs for more evolved features, there has been a rising demand for smartphones.

The sector study includes a financial analysis of major sector companies. A consolidated balance sheet of a sample of 6 businesses, for fiscals 2007 and 2008, was also drawn up. The analysis revealed that the total sales of these companies dropped by 7.4% in 2008. Their gross profit fell by approximately that much (7.6%), hence making the operating margin contract by 33.5%. It is important to point out that, overall, the other operating expenses did not change considerably in 2008/2007 (apart from a slight increase of 0.6%). All this led to the decline of the total net profit (before tax) by 33.8%. EBITDA also decreased, by 27.2%.

It seems that the current economic situation is also affecting the market under review, whose sales figures, volume and value, are expected to shrink in 2010. In the years to come, the market's growth and demand will depend, to a considerable extent, on the industry's technological evolution and the new products and services that will be developed.


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