The market for computer external storage market in Central and Eastern Europe (CEE) fell by 1.9 per cent in the last quarter of 2014 to $215.7 million, with growth in Balkan countries and Poland helping prevent a larger decline, technology market analysis firm IDC said in its quarterly report on the industry.
The decline in storage sales mainly stems from political turmoil related to events in Crimea and the following international sanctions against Russia. Coupled with falling oil and gas prices, this created a poor investment climate in the Commonwealth of Independent States (CIS) countries and damaged financial stability, with the market stagnation characterised by decreased IT investments expected to persist at least until the end of 2015, the report said.
The IT markets in Poland and the Balkan countries were less negatively impacted by developments in the region, due to government-supported projects and investment activity in the private sector, IDC said.
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(Photo: Zsuzsanna Kilian/sxc.hu)