More Opportunity Than Ever
In the last couple of months I've gone to two different events where new products were introduced. Both the CE Line Show in New York and the Levin ConsultingGroup Electronics Retail Summit in Las Vegas might well have been called Headphone and iAccessory shows. I've seen hundreds of cellphone and tablet covers and dozens of headphones, many of which rival those made by Bose that for decades had a corner on the high-end market.
The introduction in recent years of fashionable and feature-packed headphones has led a market growth of more than $2 billion in sales. Walk down any city street and you'll see that the ubiquitous white earbuds are being replaced by a variety of phones in different styles and price points, especially those at the higher end of the scale. According to NPD, in 2011 sales of headphones priced over $100 doubled from the previous year, well ahead of growth in the category.
The Apple economy has spawned an entire market for new accessories for its iPhones and iPads. The global market for mobile phone accessories exceeds $34 billion. Apple-approved products--accessories made by or branded by Apple--represent about $3 billion of it.