Polish audio products more valued abroad than at home – report

A study conducted by The Polish Association of Audio Manufacturers indicated that audio electronic devices made in Poland stand out in foreign markets as innovative and of high quality, but do not have an equally-positive reputation in Poland itself, a report in the Polish press stated on Friday. The report was made to see if the audio industry has growth opportunities in Poland and what is its biggest problems are. The organizers of the study interviewed Polish entrepreneurs who have achieved success in the audio market. "Innovative solutions offered by Polish producers are recognized on the competitive markets in the UK, the US and Japan. There are also fans on [the] exotic markets of Africa and the Middle East,” said Paweł Zaczyński, a director at media and telecommunications company Grant Thornton, in the report. The study showed that for almost 70 percent of the businesses, exports accounted for at least half of their revenue. Furthermore, 72 percent of Polish manufacturers of audio equipment expected revenue growth within the next three years. As for the biggest barriers to the development of companies, the majority of respondents indicated high costs of labor (56 percent), excessive bureaucracy (33 percent), and the variability of laws (22 percent). Smaller companies reported that access to labor was difficult. The Polish market has more than 80 companies, producing speakers, CD players, amplifiers, turntables, cables and other accessories. About 28 percent declare annual revenues of more than PLN 1.5 million. Their main sales market, however, is Western Europe – where 89 percent of their products are sold.