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German IT, telecom firms bullish ahead of giant fair

German IT, telecom firms bullish ahead of giant fair
AFP
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First Published: Thu, Mar 15 2007. 12 35 AM IST
Updated: Thu, Mar 15 2007. 12 35 AM IST
Buoyed by a boom in the high-tech sector and a robust economy, the German telecommunications and IT lobby gave a bullish outlook on 14 March on the eve of the industry’s biggest fair.
Industry group Bitkom forecast 2% expansion in the German information technology, telecoms and digital consumer electronics market to €149.1 billion (Rs8,49,300 crore) this year—tweaking its original prediction of 1.6%.
“Hardware sales are growing and the top segments of software and IT services are doing even better than initially assumed,” Bitkom president Willi Berchtold said ahead of the giant CeBIT fair here. He said 2008 looked equally promising with another 2% expansion.
Last week, the European Information Technology Observatory forecast a 2.9% boost in turnover to €668 billion this year, and another 2.9% in 2008.
Berchtold said demand for high-speed online connections was fuelling a healthy share of the growth.
“Broadband Internet, and in particular DSL connections, are the driving force in the telecommunications market,” Berchtold said.
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First Published: Thu, Mar 15 2007. 12 35 AM IST
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