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Consumer electronics sales could top $1 trillion
TaksonIC.com    Issue Date: [2011-01-10]   Browse Times: [2810]

Global retail sales of consumer electronics devices are projected to grow 10 percent this year to reach $964 billion, according to a forecast by analysts from the Consumer Electronics Association (CEA), who said sales could approach or even top $1 trillion.

"I think that the $1 trillion mark is truly achievable this year," said Steve Koenig, the CEA's director of industry analyst, at a press event Tuesday (Jan. 4) in advance of the Consumer Electronics Show. "It's within reach."

The CEA's official forecast, compiled in association with the Gfk Group market research firm, calls for growth of 10 percent in 2011 consumer electronics sales following an estimated 13 percent growth in 2010. Sales contracted by 9 percent in 2009, according to the CEA's estimates.

Smartphones will continue to pace consumer electronics growth in 2011, increasing sales by a projected $59 billion in 2011 compared to 2010, according to the forecast. Global revenue from mobile PCs, digital cameras and LCD TVs is also projected to increase significantly, outpacing expected declines in sales of plasma TVs, CRT displays and basic cellular handsets and feature phones, according to the forecast.

Koenig and fellow CEA analyst Chris Ely noted that sales of consumer electronics products have clearly rebounded from the recession of 2009, thanks in no small part to growing markets in the so-called "BRIC" countriesBrazil, Russia, India and Chinaand a resumption of spending in developed nations. The consumer electronics market continues to be dominated by the "three screens" of TVs, PCs and mobile phones, they said.

"I truly believe that technology sales serve as a buoy for the global economy," Koenig said.

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