CEA Predicts Revenue Drop
The Consumer Electronics Association last week predicted that the CE industry will experience a drop in revenues for the first time in eight years. However, the group predicted that gains will return in 2010.
CEA's U.S. Consumer Electronics Sales and Forecast, released Friday, projected revenues from CE shipments this year at $165 billion, a drop of 7.7 percent. The forecast also sees revenues bottoming out in the second half of this year, before rebounding next year.
“The CE industry is not impervious to the economic downturn but remains resilient compared to other industries,” CEA President and CEO Gary Shapiro said as part of the release of the forecast. “Through innovation and global access to consumers and open markets, technology companies will restore economic growth and prosperity. American consumers continue to purchase CE products despite cutting back in many areas, showing that consumer electronics are vital to everyday life in this country.”