12 Hrs
Source:
المصري اليوم
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Electrical Appliances: Prices Up 15% and Sales Drop
Ashraf Hilal, head of the Electric Appliances Section at the Chamber of Commerce, confirmed that the prices of these devices have increased by between 10% and 15% due to the rise in the dollar exchange rate and higher fuel prices, which have led to increased production costs. Market sales declined by between 40% and 50% due to weakened purchasing power, prompting companies to reduce profit margins to cope with the recession. Most of the market relies on local manufacturing that meets the majority of demand, with imports accounting for no more than 5%.
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