The consumer electronics industry all but shook off the effects of last year's economic recession, bouncing back from the overall 2001 sales decline to put total factory sales for 2002 at an all-time full-year high, the Consumer Electronics Association (CEA) reported during International CES.
The trade group's preliminary estimate, based on information supplied by its reporting members, put sales for the year at a record $96.2 billion, up 3.7 percent from the results of 2001.
The figures show the 2002 bounce back was led by video products and video games. Higher unit sales volumes in basic analog products, combined with the ongoing demand for digital products such as DVD players, displays and recorders, lifted total factory video sales to a record $20.5 billion, up a steep 17.1 percent from 2001.
The popularity of new high-tech video game systems and software boosted 2002 sales by a solid 15 percent to a new record of $11.5 billion. Gains also were shown by mobile electronics, accessories and home security products, while the dollar value of shipments of audio and home information products declined.
In its first forecast for this year, CEA is looking for total industry sales to post a conservative 3.5 percent rise to $99.5 billion in 2003, with electronic games coming in as the big winner, while overall video hardware sales hold about level with last year's performance. The figures indicate CEA sees a modest recovery for home information products and an easing of the decline in the value of audio product sales.
The CEA looks for the industry to come in with its first $100 billion sales year in 2004, as sales increase by 4 percent. Over the longer range, CEA expects industry sales will show gains of 6 percent in each of the following two years, to put volume for 2006 at $116.3 billion.
(Units in 1,000s, $ value in millions)