1C in crisis

    One of the leaders in the Russian software industry has been hit hard by the crisis. For the first four months of 2009, 1C's revenue fell by 14% in rubles and 39% in dollars, Vedomosti writes .

    Absolute figures are not disclosed, but they can be judged on the basis of last year's 1C results, which also suffered due to the poor ending of the year. The company's revenue grew by only 8% to $ 406 million, although in 2007 this figure almost doubled.

    Most of all, the crisis affected the sales of multimedia and gaming products: they even fell by 32% in rubles. Revenue from distribution of foreign software decreased by 31% mainly due to a drop in sales of operating systems and office applications. Boris Nuraliev, director and main co-owner of 1C, explains this with distribution problems: retail chains, which are now difficult to attract loans from banks, are in no hurry to pay suppliers. By the way, other companies note similar problems with working capital among sellers, including ABBYY (its retail sales fell by 48%).

    According to independent analysts, the problem is actually different: in modern times, people are just starting to save on entertainment and, instead of using boxed versions, download games from torrents.

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