Consumer Electronics Sales Could Reach $1.1 Trillion, CEA Says

By David Zielenziger | January 07 2013 9:41 AM

Global sales of consumer electronics may rise about 4 percent in 2013 to $1.11 trillion, the Consumer Electronics Association estimated. Last year’s total was $1.06 trillion, down 1 percent from 2011.

Both Samsung and Apple continue to rule the smartphone market as the world’s best-selling cell phone brands, collectively accounting for a staggering 46.5 percent of global smartphone sales in the third quarter of 2012, according to research firm Gartner.

Sponsorship Link

The prediction from the industry trade group came on the eve of its International Consumer Electronics Show in Las Vegas, which opens on Tuesday.

CEA chief economist Shawn DuBravac attributed last year’s decline to high prices for some advanced high-definition TVs, in part due to the sluggish European economy and flat TV sales in China. This year, the group sees renewed growth especially in emerging markets headed by China, Brazil, Russia and India.

Sales of consumer electronics are expected to rise 3 percent in North America this year, compared with only 1 percent in 2012, the CEA estimated. Smartphones and tablets will continue to be hot sellers, DuBravac said, noting that "the smartphone is becoming the viewfinder for your digital life."