US consumer electronics industry: $173bn in 2008

The consumer electronics industry will see overall shipment revenues top $173 billion in the US in 2008, according to data released by the Consumer Electronics Association (CEA). The semi-annual US Consumer Electronics Sales and Forecast shows CE shipment revenues will grow by 7.3 per cent this year, reaching more than $183 billion by 2009.
“The CE industry is a backbone of economic activity in this country,” said CEA President and CEO Gary Shapiro. “In a tough economy, consumers turn to CE products for many reasons – from entertaining in the home to telecommuting to save gas” The consumer electronics industry will see overall shipment revenues top $173 billion in the US in 2008, according to data released by the Consumer Electronics Association (CEA). The semi-annual US Consumer Electronics Sales and Forecast shows CE shipment revenues will grow by 7.3 per cent this year, reaching more than $183 billion by 2009.
"The CE industry is a backbone of economic activity in this country," said CEA President and CEO Gary Shapiro. "In a tough economy, consumers turn to CE products for many reasons from entertaining in the home to telecommuting to save gas. Such factors and access to global consumers through free trade help the CE industry to flourish while growth rates of other industries have either stalled or declined. Consumers don’t want to live without CE products and continue to crave the latest gadgets and innovations our industry has to offer."
Leading the way are digital displays, with shipment revenues approaching $28 billion. DTV shipments represent 16 per cent of all CE shipment revenues. With the switch to digital television occurring on February 17, 2009, unit sales for digital displays will accelerate, climbing 24 per cent this year, while retail prices will fall by 11 per cent.
"LCD TVs dominate the digital display market," said Steve Koenig, director of industry analysis. "With prices continuing to drop, consumers are deciding the time is right to upgrade to digital. By the end of the year, more than 60 per cent of US households will have at least one digital television."

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