Winners, Market shares, Trends (Annual edition, Year XXII) 22 hardware and software product lines Wholesalers – Dealers’ channels market survey Bulgaria ‘2017 Winners, Market shares, Trends (Annual edition, Year XXII) © CBN - Pannoff, Stoytcheff & Co., Sofia, Bulgaria. An independent company for business analysis & information. Since 1991.

Wholesalers – Dealers’ channels in Bulgaria Basic facts 21 operated [+16 suspended last 10 years] Dealers 1,200 + Product lines 30 + Wholesalers – sale out [ IT hardware, System Software ] € 306 m IT dealers & ICT solution providers – sale out € 245 m ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

IT hardware and software market survey Bulgaria 2017 Basic facts Basic fact / Year 2017 2016 Target group 1,199 dealers 995 dealers IT products tested 22 21 Brands, nominations, total 193 190 Whole sellers nominations, total 124 109 Respondents, cities total 14 12 Respondents - CEO, share 85% 79% Respondents - Sales Man, share 12% 15% Period of the survey 10.Jan-28.Feb 2017 15.Jan-07.March 2016 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

IT brands - most sold by the computer dealers in 22 product lines Bulgarian market 2016 vs. 2015, 2017f Product line 2017 (f) 2016 2015 Total Brands [dealers vote] COMPUTERS   Desktop PC 8 7 Notebooks 9 10 Tablets 11 Servers 6 Smartphones 12 Software - OS 4 Software - Security PERIPHERALS MFD-Laser MFD-Ink Monitors Printers, laser jet UPS Product line 2017 (f) 2016 2015 Total Brands [dealers vote] COMPONENTS   Cases 16 17 12 Flash memory 8 10 HDD, Ext. 9 HDD, Int. 6 5 SSD 11 Motherboards Processors 2 RAM 7 COMMUNICATIONS Networking Surveillance cameras 13 TOTAL 189 193 190 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Wholesalers from which IT dealers buy the larger volumes 17 biggest product lines - 2016 vs. 2015 Computers   Desktop PC 7 6 Notebooks 5 Servers Smartphones 4 Software 8 Tablets 9 Peripherals MFU Monitors Multimedia Printers UPS Product lines 2016 2015 Components   Cases 8 6 Hard Disk Drives 5 Motherboards 4 Processors Communications Networking 12 10 Surveillance cameras 9 Total ranked 124 109 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Desktop computers Brands wholesalers Rank Desktop PC Most sold_% 2016 Bulgaria ‘2017 march Distributor – Dealers channels Desktop computers Brands wholesalers Rank Desktop PC Most sold_% 2016 2015 Brands 2017 (f) 8 7 Total 100 Rank Desktop PC Most purchased_% 2016 2015 Distributors 7 6 Total 100.0  100.0 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Notebooks Brands wholesalers Rank Notebooks Most sold_% 2016 2015 Bulgaria ‘2017 march Distributor – Dealers channels Notebooks Brands wholesalers Rank Notebooks Most sold_% 2016 2015 Brands 2017 (f) 10 8 Total 100 Rank Notebooks Most purchased_% 2016 2015 Distributors 7 5 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Tablets Brands wholesalers Rank Tablets Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels Tablets Brands wholesalers Rank Tablets Most sold_% 2016 2015 Brands 2017 (f) 11 Total 100 Rank Tablets Most purchased_% 2016 2015 Distributors 9 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Servers Brands wholesalers Rank Servers Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels Servers Brands wholesalers Rank Servers Most sold_% 2016 2015 Brands 2017 (f) 7 6 Total 100 Rank Servers Most purchased_% 2016 2015 Distributors 6 7 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Smartphones Brands wholesalers Rank Smartphones Most sold_% 2016 2015 Bulgaria ‘2017 march Distributor – Dealers channels Smartphones Brands wholesalers Rank Smartphones Most sold_% 2016 2015 Brands 2017 (f) 13 11 Total 100 Rank Smartphones Most purchased_% 2016 2015 Distributors 4 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Software – Operating systems Bulgaria ‘2017 march Distributor – Dealers channels Software – Operating systems Brands wholesalers Rank Software: OS Most installed_% 2016 2015 Brands 2017 (f) 4 Total 100 Rank Software Most purchased, % 2016 2015 Distributors 8 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Bulgaria ‘2017 march Distributor – Dealers channels Software – Operating systems Percentage of selling computers with an operating system installed Yaer Region PC w OS PC empty 2017 Sofia based Country based BGR 2016 2015 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Software: Security Brands Rank Software: Security Most sold_% 2016 Bulgaria ‘2017 march Distributor – Dealers channels Software: Security Brands Rank Software: Security Most sold_% 2016 2015 Brands 2017 (f) 10 12 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Monitors Brands wholesalers Rank Monitors Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels Monitors Brands wholesalers Rank Monitors Most sold_% 2016 2015 Brands 2017 (f) 11 Total 100 Rank Monitors Most purchased_% 2016 2015 Distributors 7 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

MFD (laser technology) Bulgaria ‘2017 march Distributor – Dealers channels MFD (laser technology) Brands Rank MFD - Laser Most sold_% 2016 2015 Brands 2017 (f) 9 11 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

MFD (ink technology) Brands Bulgaria ‘2017 march Distributor – Dealers channels MFD (ink technology) Brands Wholesalers [both ink and laser technology] Rank MFD - Ink Most sold_% 2016 2015 Brands 2017 (f) 8 4 Total 100 Rank MFU Most purchased_% 2016 2015 Distributors 5 7 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Multimedia Brands wholesalers Rank Multimedia Most purchased_% 2016 Bulgaria ‘2017 march Distributor – Dealers channels Multimedia Brands wholesalers Rank Multimedia Most purchased_% 2016 2015 Whole sellers 9 8 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Printers (laser technology) Bulgaria ‘2017 march Distributor – Dealers channels Printers (laser technology) Brands wholesalers Rank Printers - Laser Most sold_% 2016 2015 Brands 2017 (f) 9 Total 100 Rank Printers Most purchased_% 2016 2015 Distributors 7 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

UPS Brands wholesalers Rank UPS Most sold_% 2016 2015 Brands 2017 (f) Bulgaria ‘2017 march Distributor – Dealers channels UPS Brands wholesalers Rank UPS Most sold_% 2016 2015 Brands 2017 (f) 9 Total 100 Rank UPS Most purchased_% 2016 2015 Distributors 9 5 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Cases Brands wholesalers Rank Cases Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels Cases Brands wholesalers Rank Cases Most sold_% 2016 2015 Brands 2017 (f) 19 12 Total 100 Rank Cases Most purchased_% 2016 2015 Distributors 8 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

HDD (internal) Brands Rank HDD, Internal Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels HDD (internal) Brands Rank HDD, Internal Most sold_% 2016 2015 Brands 2017 (f) 6 5 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

HDD (external) Brands Internal, external and ssd ratio Rank Bulgaria ‘2017 march Distributor – Dealers channels HDD (external) Brands Internal, external and ssd ratio Rank HDD External Most sold_% 2016 2015 Brands 2017 (f) 9 8 Total 100 Region HDD type 2015 2016 2017 (f) Sofia based Internal Country based Bulgaria External SSD ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

SSD Brands Wholesalers [both hdd & SSD] Rank Solid State Drives Bulgaria ‘2017 march Distributor – Dealers channels SSD Brands Wholesalers [both hdd & SSD] Rank Solid State Drives Most sold_% 2016 2015 Brands 2017 (f) 11 Total 100 Rank HDD Most purchased_% 2016 2015 Distributors 5 6 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Motherboards Brands wholesalers Rank Motherboards Most sold_% 2016 Bulgaria ‘2017 march Distributor – Dealers channels Motherboards Brands wholesalers Rank Motherboards Most sold_% 2016 2015 Brands 2017 (f) 5 6 Total 100 Rank Motherboards Most purchased_% 2016 2015 Distributors 4 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Processors Brands wholesalers Rank Processors Most sold_% 2016 2015 Bulgaria ‘2017 march Distributor – Dealers channels Processors Brands wholesalers Rank Processors Most sold_% 2016 2015 Brands 2017 (f) 2 Total 100 Rank Processors Most purchased_% 2016 2015 Distributors 5 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

RAM Brands Rank RAM Most sold_% 2016 2015 Brands 2017 (f) 8 9 Total Bulgaria ‘2017 march Distributor – Dealers channels RAM Brands Rank RAM Most sold_% 2016 2015 Brands 2017 (f) 8 9 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Flash memory Brands Rank Flash mem Most sold_% 2016 2015 Brands Bulgaria ‘2017 march Distributor – Dealers channels Flash memory Brands Rank Flash mem Most sold_% 2016 2015 Brands 2017 (f) 8 10 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Network hardware Brands wholesalers Rank Networks Most sold_% 2016 Bulgaria ‘2017 march Distributor – Dealers channels Network hardware Brands wholesalers Rank Networks Most sold_% 2016 2015 Brands 2017 (f) 10 Total 100 Rank Networks Most purchased_% 2016 2015 Whole sellers 12 10 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Surveillance cameras Brands wholesalers Rank Surveillance cameras Bulgaria ‘2017 march Distributor – Dealers channels Surveillance cameras Brands wholesalers Rank Surveillance cameras Most sold_% 2016 2015 Brands 2017 (f) 12 13 Total 100 Rank Surveillance cameras Most purchased_% 2016 2015 Whole sellers 12 9 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

IT wholesalers - customer satisfaction in 10 categories (the dealer's estimation) 2016 vs. 2015 Dealers’ satisfaction 2016 2015   nominations PRICES – LOWEST 13 8 STOCK – BEST 6 AFTER SALES SERVICE - BEST 11 7 CREDIT LINES – BEST 9 INTERNET – MOST ORDERS LOYALTY PROGRAMS- BEST 12 Total ranked 71 44 Dealers’ nominations 2016 2015   dealers vote MOST TRUSTED DISTRIBUTOR 12 7 BEST SALES MANAGER 61 56 BEST DISTRIBUTOR 13 6 Total ranked 86 69 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Lowest prices Wholesaler Scores from total_% 2016 2015 ASBIS Bulgaria   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria MDML Most Computers Negs Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Best stock Wholesaler Scores from total_% 2016 2015 ASBIS Bulgaria BMG   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria MDML Most Computers Negs Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Best after-sales service (maintenance) Wholesaler Scores from total_%   2016 2015 ASBIS Bulgaria BMG Computer 2000 LanCom Bulgaria MDML Most Computers Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Best credit lines Wholesaler Scores from total % 2016 2015   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria Most Computers Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Best loyalty programs Wholesaler Scores from total % 2016 2015   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria MDML Most Computers Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Most orders over the Internet Wholesaler Scores from total %   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria Most Computers Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Most trusted wholesaler Scores from total_%   2016 2015 ASBIS Bulgaria BMG Computer 2000 LanCom Bulgaria MDML Most Computers Negs Polycomp Solytron Tech Vision Techno Pro Vali Computers Nominations total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Best wholesaler (general) Scores from total_%   2016 2015 ASBIS Bulgaria BMG Computer 2000 Escom Bulgaria LanCom Bulgaria MDML Most Computers Negs Polycomp Solytron Tech Vision Techno Pro Vali Computers Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Market position Wholesaler Improved_% Worse_% No changed_% 2016 2015   2016 2015 Apcom ASBIS Bulgaria BMG Computer 2000 Data Optic Balkans Escom Bulgaria LanCom Bulgaria MDML Most Computers Negs Polycomp Solytron Tech Vision Techno Pro Vali Computers Virtualna zona ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval Computers - desktop Computers - mobile (incl. tablets) Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Computers - desktop Most Computers Polycomp Solytron Tcehno Pro Vali Computers Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Computers - mobile LanCom Bulgaria Most Computers Polycomp Solytron Tcehno Pro Tech Vision Vali Computers ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval Servers Smartphones Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Servers Most Computers Polycomp Solytron Tcehno Pro Vali Computers Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Smartphones Most Computers Polycomp Solytron ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval Storage hardware Peripheral - printing devices Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Storage hardware Most Computers Polycomp Solytron Tcehno Pro Vali Computers Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Peripheral - printing devices LanCom Bulgaria Most Computers Polycomp Solytron Tcehno Pro Vali Computers ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval Peripheral - video devices Network hardware Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Peripheral - video devices LanCom Bulgaria Most Computers Polycomp Solytron Tech Vision Vali Computers Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Network hardware LanCom Bulgaria Most Computers Polycomp Solytron Tcehno Pro Vali Computers ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval Components Multimedia products Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Components LanCom Bulgaria Most Computers Polycomp Solytron Vali Computers Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Multimedia products Most Computers Polycomp Solytron Vali Computers ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval System software Security software Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria System software Most Computers Polycomp Solytron Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria Security software Most Computers Polycomp Solytron Tcehno Pro Escom - Bulgaria ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines approval UPS Wholesalers Product lines Approval_%   Y 2016 ASBIS Bulgaria UPS LanCom Bulgaria Most Computers Polycomp Solytron Vali Computers ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Top 25 Sales Manager (SM) ranked by the dealers Sales managers rank Distributor SM in rank   2016 2015 ASBIS Bulgaria Comel Soft Multimedia Computer 2000 Data Optic Balkans Freckles Kontrax-Sofia LanCom Bulgaria MDML Most Computers Polycomp Solytron Stantek Tech Vision Techno Pro Vali Computers Total Companies total 15 10 Top 25 Sales Manager (SM) ranked by the dealers Wholesaler ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

The business of IT dealers in Bulgaria The most important trends and problems 2016 vs. 2015 Seven main categories ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines: the most important to dealers Sofia region Country region Bulgaria Rank Product line 2015 2016 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Rank Product line 2015 2016 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Rank Product line 2015 2016 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Product lines: 2017/ 2016 growth estimations Sofia region Country region Bulgaria [ average … % ] Product line 2017 / 16 Product line 2017 / 16 Product line 2017 / 16 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Sale out share by customer groups Sofia region Country region Bulgaria Customers % from total sales Segment growth   2015 2016 2017 (f) SOHO B2B PUBLIC OTHERS Total 100 % Customers % from total sales Segment growth   2015 2016 2017 (f) SOHO B2B PUBLIC OTHERS Total 100 % Customers % from total sales Segment growth   2015 2016 2017 (f) SOHO B2B PUBLIC OTHERS Total 100 % ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Informal (gray) business % of Informal (gray) business 2014 2015 2016 2017 (f)   Sofia region Country region Bulgaria ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Orders and Sales via Internet Sofia 2017(f) 81% Country 86% Bulgaria 84% 2016 2015 Sofia 2017(f) 30 % Country 9 % Bulgaria 15 % 2016 2015 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

Problems Rank Problem Scores from total_% 2016 2015 14 Total 100   14 Total 100 ©1991-2017 CBN - Pannoff, Stoytcheff & Co. Sofia. Bulgaria. A company for business analysis & information. Since 1991. Strictly confidential

IT hardware and software market survey Bulgaria 2017 (Annual edition, Year XXII) ©1991-2017 CBN - Pannoff, Stoytcheff & Co., Sofia, Bulgaria. A company for business analysis & information. Since 1991. All rights reserved. No copying, distribution, reference or quotation of parts or the whole material without the author's written consent is allowed. CBN, ICT Trade Bulgaria, VIP ICT Business Bulgaria, ICT Markets Bulgaria, ICT Ranks Bulgaria, IT Survey Bulgaria, ICT Analyst Bulgaria are trademarks of Computer Business Networks Pannoff, Stoytcheff and Co. All names in the material, besides these, are trademarks or reserved trademarks of their respective owners.