US downturn hits electronics sales

The economic downturn in the US looks set to hit the consumer electronics sector hard, according to a recent survey of consumer buying intentions.

Consultancy firm ChangeWave said that its latest study of over 4,000 US consumers shows the biggest dip since it began measuring spending trends in 2002.

A third of respondents intend to spend less on electronics in the next 90 days, compared with 10 per cent who said that they will spend more.

LCD TVs, digital cameras, mobile phones and iPods are likely to be the worst hit, according to the survey.

However, two items seem to be bucking the trend. Eight per cent of respondents intend to buy a Nintendo Wii, and nine per cent intend to buy a Blu-ray high-definition DVD player.

There are also differences between individual retail chains when measuring intention to purchase. Best Buy, Circuit City, Amazon, e-Bay and Apple are looking at a downturn, while Wal-Mart is looking at a healthy 12 per cent lift.

See also:

Profits fall at Taiwanese telco giant

Chunghwa Telecom reports Q4 revenue of $1.74bn  27 Mar 2008

PC sales facing strong economic headwinds

Gartner warns on global slowdown  25 Mar 2008

iPhone effect drives smartphone sales

Smartphones to make up a third of all handset sales by 2013  20 Mar 2008

Asia PC sales up, but prices down

Notebook sales driving market growth  14 Mar 2008

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