Ukrainian PC Turnover Grew by 44.4% yoy in 2007

According to IDC, an international research agency, the volume of PC turnover in Ukraine increased by 44.4% yoy to 2.2 mln units last year. Sales of desktops reached 1.5 mln units (+24.3% yoy) and servers to 23 ths (+24.0% yoy), while laptops grew 123.6% yoy to 0.7 mln units. As a result, laptops share in total turnover rose from 20.3% to 31.4% in 2007. Alexander Viktorov: Ekvin’s (KVIN: BUY), the only traded stock in the Consumer Electronics sector, increased PC assembly by 67% yoy to 60 ths units in 2007, which allowed it to advance into the #3 position on the market. In USD terms, the company’s PC segment sales expanded by 74% yoy to USD 63.3 mln, increasing its share in total revenues from 31% to 35%. Ekvin’s overall sales last year rose 54% to USD 177 mln, we see a 43% build-up this year, to USD 253 mln. We forecast the PC market in Ukraine will grow another 30% in 2008, which is in line with IDC’s latest projections.