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Consumer electronics grows 4.2% in second quarter

Producers see sales growth through the rest of the year

Jim Carbone -- Purchasing, 7/8/2009 2:25:08 PM

Global consumer electronics (CE) equipment revenue increased 4.2% in the second quarter and will post double-digit sequential growth in the third and fourth quarters as well, according to market researcher iSuppli. However, for the year CE equipment revenue will fall 8% because of a weak first quarter when sales declined nearly 30% from the fourth quarter of 2008 and 10% from first quarter of that year.

"Following the dismal first quarter, conditions are starting to improve in the consumer electronics business," says Sheri Greenspan, senior analyst, consumer electronics, for iSuppli. She says revenue will rise 12.5% in the third quarter and 10.2% in the fourth. However, for the year revenue will total $307.6 billion, down from $335.2 due to the worldwide economic downturn and declining prices for CE products.

 Because of the recession, CE equipment manufacturers have cut prices for many products include digital still cameras, video game consoles and LCD-TVs. While that's good news for consumers, it means less revenue for manufacturers.

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