Britain's consumers poured cash into TVs, smartphones and household appliances over Christmas and into 2015, says Samsung’s UK and Ireland president, who said the spending was a barometer of the wider UK economy.
“We’re really seeing the health of the UK economy coming through,” explained Andy Griffiths, speaking to City A.M. at Mobile World Congress in Barcelona.
“Consumers are more confident and they’re spending more money on major ticket items.”
For Samsung, which relies on Europe for around 23 per cent of its revenues and in January revealed its global annual profit for 2014 had fallen to its lowest level since 2011, the news of a resurgence in spending will be promising.
“We’re much encouraged by the start of 2015. We had a very good start from our consumer electronics business and also in our B2B (business-to-business) division,” said Griffiths.