Israeli Tech Companies Lose European Sales
Israeli technology companies are set to have their slowest growth since 2009 in response to the European recession causing lower spending on phones, computers and other technology, reports Bloomberg. European businesses accounted for 23 percent of Israel’s company sales in 2012, and currently stand as Israel’s second largest trading partner. Many businesses in Europe have been making major cuts in technology spending, leading to an inevitable decrease in demand for technology. It remains unclear when the market will make a turnaround and technology sales will see improvement.
