The 2009 International Consumer Electronics Show completed its first full day in Las Vegas Thursday with technology products galore but industry expectations of lower sales this year amid a tough economy.
The CE industry is resilient but not immune from the business cycle, said CEA President and CEO Gary Shapiro.
The consumer electronics industry grew in 2008 with total shipment revenues up 5.4 percent over 2007 to reach $172 billion, according to the Consumer Electronics Association.
This year will likely prove tougher, as the CEA predicts shipment revenues will decline slightly to $171 billion, or 0.6 percent lower.
At the CES this year there are about 20,000 new products and 300 new exhibitors, the association reported.
There will be some bright spots, however.
The top selling products in the industry are digital televisions generating revenues of about $25.7 billion, representing 15 percent of all sales.
Digital TV sales will grow 6 percent in 2009, the CEA said. More than 35 million units will be sold in 2009 up 6 percent over 2008.
The video games category is expected to grow 11 percent to $22 billion in revenue. Gaming software revenue alone will grow 18 percent to $15 billion the CEA said.
Smartphone sales will grow 20 percent to $13.6 billion this year. They will account for 60 percent of all handset sales.