The market share of Bulgaria's Bulgartabac Holding decreased by more than 10% in the first quarter of the year. In 2007 the company held 75% of the cigarette market in Bulgaria but its share dropped to 64.7% in Q1 2008. The main reason for the loss of positions is the price hike initiated in the beginning of the year. Bulgartabac's market share was 68% in January and 65% in February, when some of the best-selling brands appreciated. In March, the share decreased further to 63.2%.