By : Chris Tribbey | Posted: 27 Jan 2010
After seeing a 6.7% drop in revenue in 2009, the worldwide consumer electronics industry should see a slight increase in 2010, thanks to set-top box and LCD HDTV sales, according to a new report from research firm iSuppli.
Worldwide consumer electronics revenues should hit $317.3 billion in 2010, up from $312.3 billion in 2009, according to the forecast. The 6.7% drop in 2009 revenues was the first annual decline since 2001.
“Sales of consumer electronics rebounded in the second half of the year, setting the stage for renewed growth in 2010 and beyond,” said iSuppli analyst Jordan Selburn. “One major bright spot for consumer electronics in 2009 was the LCD-TV segment, which achieved 4.2 percent revenue growth due to incentives in China and the increasing sales of LED-backlit sets. The LCD-TV market is set to extend its winning streak in 2010 as stabilization in the global economy and declining prices prompt consumers to keep buying.”
Global LCD revenue is expected to be $75.5 billion for the year, up 5% from 2009. Set-top revenues are expected to hit $18.2 billion, up more than 11% from 2009.