Global consumer electronic sales to hit $700 billion in 2009

Worldwide revenue for consumer electronics is expected to hit the $700 billion mark by 2009, according to the Consumer Electronics Association. Consumers will spend $42 billion more on consumer electronics products next year, the group said.

By 2009, China will account for nearly 15 percent of global revenue, trailing only the United States at 22 percent and Western Europe at 16 percent.

Collectively, sales of mobile products will top 1.5 billion units in 2008. Topping the list are portable navigation devices, with expected worldwide revenue growth of nearly 20 percent in 2008. Laptop computers (up 15 percent) and mobile phones and smartphones (up 14 percent) will also experience strong sales.

"In today's fast-paced world, the need for a moment of relaxation has never been greater," said Anthony Rode, director of digital convergence at Nuremberg, Germany-based market research firm GfK, which released this year's data with CEA. "Consumers have responded to this desire by continuing to upgrade their home video and audio entertainment experience."

Global revenue for LCD TVs will grow nearly 28 percent this year, resulting in more than 100 million units sold worldwide. LCD and plasma TVs will account for nearly 20 percent of worldwide consumer electronic sales this year.

This year, 127 million DVD player units and 89 million video game console units are expected to go off the shelves. (Source: East Bay Business Times)

Story filed 10 July 2008

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