Arlington-based CEA boosts estimates of consumer electronics sales
Tablet computers, smartphones, 3-D TVs expected to drive market in coming months
By Bob Keefe | July 23, 2010
The economy may still be limping sluggishly along, but the consumer electronics market is running ahead of previous expectations, according to new research from the Arlington, Va.-based Consumer Electronics Association.
The trade group now projects that U.S. sales of televisions, computers, cell phones and other electronics will increase 3 percent this year to nearly $175 billion - a major jump from its predictions earlier this year.
Additionally, thanks to expected economic improvements and new products like Apple's iPad and similar devices planned by Microsoft and others, the association now predicts consumer electronics sales will rise another 4 percent next year to a record $182 billion.
"Innovation in the CE industry is driving consumer enthusiasm, orchestrating a turnaround for our industry and bolstering the overall U.S. economy," CEA President and Chief Executive Gary Shapiro said in a statement. "The response to innovative new products like tablet computers and 3D displays, and continued growth of other product categories, illustrate that consumers love technology."
The latest sales forecast is more than $9 billion higher than CEA had estimated in January, when it predicted overall consumer electronics sales would inch up less than 1 percent this year.
Driving the expected increase in sales is a handful of product categories - namely 3D televisions, smartphones, Blu-ray players, eReaders and tablet computers, CEA officials said.
"Despite a relatively sluggish first half, these innovative product categories have generated a great deal of consumer interest," Steve Koenig, CEA’s director of industry analysis said in announcing the estimate change Thursday.
"As a result, we see a stronger second half demand unfolding, and we anticipate a robust holiday quarter," he said.
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