Global Consumer Electronics Will Grow to $700 Billion Next Year
Jul 10, 2008
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Worldwide revenue for consumer electronics (CE) will grow nearly 10% in 2008 and will hit the $700 billion mark by 2009, according to new data from the Consumer Electronics Association (CEA) and the GfK Group. According to the CEA/GfK Worldwide Consumer Electronics Sales & Forecast, consumers will spend $42 billion more on CE products in 2009 than in 2008. Countries with fast-growing economies and large emerging middle classes, such as the BRIC countries (Brazil, Russia, India, and China), will lead the way in new CE revenue growth. By 2009, China will account for nearly 15% of global CE revenue, trailing only North America (22% share) and Western Europe (16% share). Mobile devices make up the largest CE category worldwide, both in terms of unit sales and revenue. Collectively, sales of mobile products will top 1.5 billion units in 2008. Topping the list are portable navigation devices (GPS), with expected worldwide revenue growth of nearly 20% in 2008. Also seeing strong sales: laptop computers, up 15%, and mobile phones/smartphones, up 14%. "Many regions of the world face high population densities or underdeveloped infrastructures. Mobile products help consumers overcome these hurdles,” says Tim Herbert, CEA’s senior director of market research. Global revenue for LCD TVs will grow nearly 28% this year, resulting in more than 100 million units sold worldwide. Flat-screen TV sales (LCD and plasma) will account for nearly 20% of worldwide CE sales in 2008. DVD players have expected sales of 127 million units in 2008 and video game consoles have expected sales of 89 million units.

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