However, from January to September, the market plummeted 42.3% from the same period of last year, to €1 billion.

Home appliances and telecommunication fell 23.2%, and 28.6% respectively in the first three quarters.

Electronics fell 43.3%, while imaging/photographic equipment manufacturing declined 46.9% in 2009. Information technology and office equipment sectors remained fragile from January to September, dropping at rate of 50.8% and 53.2% respectively.

However, the negative performance of the small domestic appliances improved slightly, to a decline rate of 25% in third quarter, from 27.6% in the previous quarter. The segment reached the highest value in sales of the year in Jul-Sep period - €18 million. The best selling products have been the shaving machines and hair removers, seasonal products.

Mobile phone and smartphone market fell 33.5% in third quarter, to €61 million. Market demand has been stimulated by the decline in prices and the new technologies embedded in the new products.

Large appliances, up 20% in Q3

Sales of major appliances increased by 20% in third quarter, compared to April-June period, but fell 38.4% from year-ago period. Summer season has kept sales of household refrigerators and home freezers at high level, while energy-efficient models sales have been encouraged by the retailers’ buy-back campaigns.

Electronics however recorded a 45% decline in sales due to a variety of factors: personal loan freeze, lower foreign capital inflow, higher unemployment rates, feeble currency and the liquidity shortage that affected certain retailers.

According to GfK estimates, the fourth quarter sales may once again come in higher than previous quarters, due to the seasonality of consumer behavior and promotions carried out by retailers and producers in December, especially for LCD and plasma TV sets.

As for the digital photographic equipment, sales remained at the Q2 level - €9 million. Suffering one of the biggest declines amid the global downturn, photographic equipment market stood at half of last year’s level. Consumer demand has also influenced the seasonality curb.

Information technology sector remains fragile

IT sector suffered a 58.1% decline in third quarter to €86 million. The negative performance of the IT industry reflects the sluggish demand for almost all IT products. Office equipments recorded 57.3% decline in third quarter year-on-year to €10 million.

GfK TEMAX is an index that tracks the technical consumer goods markets in more than 30 countries worldwide.