CE Shows 5.6 Percent Growth
Overall shipments revenues for the electronics industry are expected to reach $190 billion this year, with next year's projected total of $197 billion will mark an all-time record. That's according to a new mid-year economic forecast released Monday by the Consumer Electronics Association.
2011 shipments are seen growing 5.6 percent, up from the 3.5 percent expected in January. The tablet category is expected to grow 157 percent this year, with smartphones rising 45 percent.
"Innovation continues to drive the electronics industry to record levels, even in the face of declining economic growth overall,” CEA President and CEO Gary Shapiro said as part of the announcement. “Newer, innovative product categories, like tablets, not only meet consumer demand but also help bolster our industry and strengthen the overall American economy.”