BERLIN, Nov. 28 (Xinhua) -- The consumer electronics industry in Germany expects a strong Christmas business and revenues of around 8.6 billion euros (9.7 billion U.S. dollars) during the final quarter of the year, the industry association (gfu) estimated on Wednesday.
During the first three quarters of 2018, revenues in the consumer electronics sector in Germany declined by 8.6 percent according to previous gfu figures. However, gfu expects that the fourth quarter of 2018, especially around Christmas and new year, will compensate for the bad start of the year, accounting for around 30 percent of 27.5 billion euros in total annual sales.
Also adding to a strong Q4 was the cyber Monday that marks the start of the Christmas season by online shops. "We expect a revenue of 2.4 billion euros from a single day alone," said Hans-Joachim Kamp, gfu chairman of the supervisory board.
Large flat screen televisions, internet ready audio devices, loudspeakers, audio and video accessories as well as smartphones would be the big revenue drivers, the German consumer electronics association added.
Although the average price of smartphones has risen by almost 10 percent to 478 euros, gfu notes that smartphones are achieving the "greatest growth" in the consumer electronics market.
Gfu expects that around 23 million smartphones will be sold by the end of the year, increasing smartphone revenues by 10 percent to 11 billion euros in 2018. Enditem
