Connect with us

Economics

IT city goes from strength to strength

IT city goes from strength to strength.The information technology sector appears to be weathering the economic storm better than most.
The sun always shines brightly on the IT industry regardless of economic or political conditions, with widespread consumption of IT products ensuring steady growth, says Ekachai Sirijirapatana, president of IT City.

Avatar

Published

on

The information technology sector appears to be weathering the economic storm better than most.

The sun always shines brightly on the IT industry regardless of economic or political conditions, with widespread consumption of IT products ensuring steady growth, says Ekachai Sirijirapatana, president of IT City.

Pantip Plaza Bangkok

With 40 branches in Bangkok and the provinces, the SET-listed chain is well positioned to gauge the direction of the IT retail trade.

First-quarter results underscore the optimism, as the company’s net profits grew to 41.4 million baht from 22.2 million in the same period last year. It even posted year-on-year growth in April, when the political temperature reached boiling point, partly because the same month in the previous year also saw mass rallies and political violence.

Growth should also be positive this month and next with the school holidays ending. However, Mr Ekachai expects results to be less rosy than the performance in the first quarter.

With the large number of red-clad neighbours not too far from the doorstep of its main branch at Pantip Plaza, IT City has been facing some tough challenges over the last few weeks.

“In recent weeks, as political problems rocked the city, it led to sales at Pantip Plaza dropping – but we are still able to grow because we have branches elsewhere,” said Mr Ekachai.

“Right now, if you go shopping anywhere you’ll notice that malls in suburban areas far from the protesters are attracting more people.”

However, the main driver of the industry is technological innovation. This year a big boost to sales has come with Intel’s introduction of a new family of processors that feature integrated graphics capabilities, complementing the advances made by Microsoft’s new Windows 7 operating system for PCs.

Read original article

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Economics

IMF cut global growth GDP in 2019 to 3.3% warning of higher risk

The International Monetary Fund (IMF) announced its downward revision of global growth estimate in 2019 to 3.3%, down from 3.5%, and of global trade volume estimate to 3.4% from 4%

Avatar

Published

on

The International Monetary Fund (IMF) announced its downward revision of global growth estimate in 2019 to 3.3%, down from 3.5%, and of global trade volume estimate to 3.4% from 4% as previously assessed in the World Economic Outlook in January 2019.

(more…)
Continue Reading

Banking

SCB cuts GDP growth forecast to 3.1%

The EIC has revised downwards its Thai economic expectations in 2019 to 3.1 percent from 3.3 percent, largely as a result of the trade war between the United States and China

National News Bureau of Thailand

Published

on

SCB cuts GDP growth forecast to 3.1%

Bangkok, (NNT) – Government investment remains the main factor in steering the economy as the trade war between the United States and China has affected exports, tourism and investment.

(more…)
Continue Reading

Banking

Political uncertainty takes toll on Thai growth

The country’s growth rate is projected to fall from 4.1 percent in 2018 to 3.5 percent in 2019, according to the World Bank’s Thailand Economic Monitor, released today.

Olivier Languepin

Published

on

According to the World Bank’s Thailand Economic Monitor (July edition), risk to the economic outlook in Thailand are primarily domestic.

(more…)
Continue Reading

Most Read

Upcoming Events

Nov 27

The Future Energy Show Thailand

November 27 @ 10:00 am - November 28 @ 5:30 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 10,903 other subscribers

Trending