Printer sales through the Middle East (ME) distribution channel experienced a significant downturn in June 2024, with sales and revenue plummeting by 25.3% year-over-year (YoY) and 35.2% YoY, respectively. This sharp decline was primarily driven by a considerable drop in sales of inkjet multifunction printers (MFPs) and laser MFPs, which fell by 34.9% YoY and 10.5% YoY, respectively. Multifunction printers accounted for about 83% of the market units sold in ME during June 2024.
“The dramatic decrease in multifunction device sales has had a profound impact on the overall market performance,” said Antonio Tania, Head of Business Analysts at CONTEXT. “While the multifunction segment has faced significant challenges, we are encouraged by the growth in single-function printers within the business channel, indicating potential areas of resilience and opportunity.”
Both consumer and business channels experienced declines, with the consumer channel dropping by 69.2% YoY and the business channel by 2.3% YoY. Despite the overall negative trend, the small and medium retailer (SMR) channel showed a stable small growth of 1.2%, helping to sustain the business channel. Notably, there was significant growth in inkjet single-function printers (SFPs) by 71.9% YoY and laser SFPs by 16.7% YoY. However, the drop in average selling price (ASP) due to the product mix overshadowed these gains, resulting in no growth in revenue for the Middle East market.
