Electronics Companies Face Slow Growth in 2009
Consumer electronic sales are expected to have slow growth in 2009 due to economic recession, according to international trade organization. Consumer products including televisions, mobile phones, and desktop computers are affected by the slowdown.
But despite this prediction, the electronics industry will do far better compared to other economic sectors.
Consumer electronics sales will experience a slow growth of 4.3 percent this year, according to Consumer Electronics Association (CEA) on Thursday.
During the annual Consumer Electronic Show (CES) held in Las Vegas, the trade organization said that electronic sales are predicted to hit $724 billion this year from $694 billion in 2008, a sharp decline from last year’s 13.7 percent growth and the two-digit growth rates of previous years.
Companies which produce mobile phones, televisions, and desktop computers are expected to experience the lowest growth rates, CEA added.
Last year, mobile phones sales grew to 13 percent which accounted to 26.7 percent in total revenue of electronics sales, but according to CEA’s forecast, this device will only grow 2.1 percent totaling to 1.2 billion units this year.
Televisions sales are also predicted to grow 2.6 percent this year to 232 million units, a low increase compared to last year’s double-digit sales growth.
While desktop computers sales have a grim future in 2009, laptops and netbooks are expected to have double-digit growth sales.
Despite slow growth caused by worldwide recession, CEA said that electronics industry is still more stable compared to other economic sectors.
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