Consumer electronics sales figures for 2004 and projected sales for 2005 both look to be strong, according to new figures out from the Consumer Electronics Association. Growth seemed to be especially strong in digital cameras, flat panel displays, wireless communication devices and MP3 players.
The CEA report, according to the trade organization, reveals that projected 2005 figures across the industry indicate increased revenue of 9 percent, or $123 billion. Final 2004 numbers indicate total industry sales grew 10 percent, totaling $113 billion in revenues.
Related to the specific product categories mentioned before, digital cameras sales totaled 18.9 million units in 2004, generating $4.7 billion in revenue. MP3 player sales, meanwhile, are projected to reach 15.9 million units in 2005, compared to 7.5 million the year before.
As for flat panels, the CEA says LCD unit sales are projected to reach 3.9 million units on $3 billion compared to 1.8 million units and $1.6 billion in 2004. Plasma unit shipments are projected to reach 2 million and $3.9 billion, increasing dramatically over the 2004 volumes of 870,000 units and $2.3 billion.
“The consumer electronics industry continues to enjoy healthy growth and consumers are faring even better thanks to competitive pricing and overall price deflation,” said CEA President and CEO Gary Shapiro. “While price declines and competition place pressure on profit margins, these factors also help drive total unit sales as consumers flock to join the digital era. With this in mind, we have upwardly revised sales projections for several product categories in our updated 2005 forecast report.”