Economy, Domestic Economy

Home Appliance Market Turnover at $5.7b

Home Appliance Market Turnover at $5.7bHome Appliance Market Turnover at $5.7b

Iran’s home appliance market has an annual turnover of 200,000 billion rials ($5.7 billion at market exchange rate), said the spokesperson of Home Appliance Producers Association. Hamidreza Ghaznavi added that foreign companies hold 150,000 billion rials ($4.28 billion) of this market. The official put the profit margin of foreign companies in Iran at 30-40% and said they make an annual profit of 60,000 billion rials ($1.71 billion) from the country’s home appliance market, IRNA reported.