There once was a time where you could purchase something and it was expected to last a lifetime. I still have a few of my grandfather’s tools that were made in the 1950s and are still just as strong today as they were the day they were shipped from the factory. Of course, my grandfather didn’t have a HDTV and a serious addiction to video games and tech gadgets that need replacing every couple of years. Things have changed since then, and that’s why it’s a good time to be in tech field.
According to a report by Digital Media Wire, the CEA (Consumer Electronics Association) is expecting to see a continued sales growth surge into 2007. The CEA is an association dedicated to helping the consumer electronics industry grow and they’re also responsible for the yearly Consumer Electronics Show which, since the departure of E3, is garnering more attention. This show, held in Las Vegas, is where all the tech industry comes to show off all of its newest toys. It’s also a fantastic place to go to get an idea about the state of the industry.
The sales data that Gary Shapiro, President and CEO of the CEA, spoke about concerns factory-to-dealer sales, and this year they are expected to exceed $155 billion, which is a 7% increase over 2006. This growth is being attributed to people replacing their older televisions, buying MP3 players, renewed interest in GPS devices and the the release of the next generation of consoles. This will be the second year in a row that the industry has grown. Maybe we’ll see a threepeat (don’t tell Pat Riley).