‘Mergers in technology retail sector inevitable’

‘Mergers in technology retail sector inevitable’

ISTANBUL - Hürriyet
‘Mergers in technology retail sector inevitable’

Technology retail sector has been suffering, says Dinçer of the Sabancı Holding.

For years the technology retail sector in Turkey has been suffering and the sector has reached the end of the road, Sabancı Holding Retail Group President Haluk Dinçer told daily Hürriyet.

“In the coming period mergers will be inevitable,” he said.

He said growth in the Turkish economy had slowed down in the second half of 2012.

He noted that Teknosa, Sabancı Holding’s technology retailer, had increased its turnover by 29 percent in the first half of the year to 1 million Turkish Liras.

According to the company’s financials, Teknosa also increased its operational profits to 42 million liras and its net profits to 20 million liras, registering 14 percent growth.

Teknosa today serves by 280 stores in 75 cities across Turkey, accordign to the offical web site of the retailer.