ELECTRONICS
Despite the recession, people still buying tech toys
The economy may be sinking, but don’t expect consumers to toss aside their tech toys.
That’s the word from the Consumer Electronics Association, which recently released its worldwide outlook for spending on products made by its members. According to the CEA and research partner GfK Group, consumers worldwide will spend $724 billion on mobile phones, TVs, laptops and other consumer electronics gadgets this year, up 4.3 percent from 2008.
That’s far below the 13.7 percent sales growth the industry posted in 2008. But it’s still impressive.
CEA expects 2009 to be a mixed year for the industry, depending on product category and geographic area. For example, it expects mobile phone sales to jump about 2 percent worldwide, but to decline in the United States and Brazil.
One expected bright spot for the industry will be sales of laptop computers, which the researchers expect to grow by 8.2 percent. They predict sales growth in all the major markets.
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