Smartphones cut into electronic profits
Smartphones led the sales of stand-alone electronic gadgets over the holiday season, according to a report from the NPD Group of Port Washington. (Jan. 6, 2012) Credit: AP
U.S. sales of consumer electronics fell 5.9 percent this past holiday shopping season, as smartphones apparently cannibalized sales of stand-alone gadgets such as cameras, camcorders and GPS navigation devices.
The NPD Group, of Port Washington, reported Sunday that electronics sales, including TVs and PCs, totaled $9.5 billion in the five weeks ending Dec. 24.
Camcorder sales plunged 43 percent, and sales of digital picture frames fell 38 percent. GPS units slumped 33 percent. PC and TV sales slipped just 4 percent, bolstered by sales of TVs bigger than 50 inches.
Cellphone sales are not included in the report.
The figures were released as the consumer electronics industry gathered in Las Vegas for its annual trade show, the largest in the Americas and one of the largest in the world, and jibe with some retail numbers released last week.
Best Buy Co., the largest U.S. electronics retailer, said Friday that December sales lagged because of weak traffic.
Sales at stores open a year fell 1.2 percent for the month. However, sales were strong for smart phones, tablet computers and e-readers.
More than 140,000 people are expected to attend the International Consumer Electronics Show, which kicks off Monday with a speech by Microsoft chief executive Steve Ballmer. It runs through Friday.
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