Global tech sales to surpass $1 tn in 2012: Forecast

LAS VEGAS: smartphones and Tablet PCs will help push the world of consumer electronics spending over $ 1000000000000 that year, but growth has been sluggish since last year, according to industry analysts.

"The majority of product categories are slowing down or going into a contraction," Steve Bambridge, global business director of GfK Boutique Research said Sunday before the annual Consumer Electronics Show (CES) in Las Vegas.

"Really there are two main exceptions: tablets and smartphones," Bambridge said Tuesday briefing reporters before the official opening of the hi-tech gadget extravaganza.

GfK and the sponsor of the CES Consumer Electronics Association (CEA) predict that global technology spending will grow five percent of products in 2012 rose by eight percent compared to $ 1.04 trillion last year, and sales of $ 993 billion.

GfK and CEA said that they expect smartphone sales to grow 22 percent this year compared to 59 percent last year while the overall tablet sales are expected to double, ie over 100 million this year.

As demand slackens in the United States and Western Europe grapples with the economic crisis and the uncertainty of the euro in emerging markets like Brazil, China and India will increase its share of expenditure on Consumer Electronics, GfK and CEA said.

The emerging economies are expected to constitute 46 percent of the global tech sales in 2012 to 37 per cent in 2008, while the developed economies will see their share drop 54 percent 63 percent over the same period.

CEA chief economist Shawn Dubravac said he expects more than 20,000 new product launch at CES, which connects more than 2700 exhibitors from around the world cavernous Las Vegas Convention Center.

Last year alone more than 100 notebook PCs were unveiled CES as rival manufacturers have tried to capture the magic of the hot-selling Apple iPad.

Dubravac said he expects about 50 new tablets this year, and many elegant smartphones, which he described as "more like a full-fledged computers."

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Article Source:- http://economictimes.indiatimes.com/tech/hardware/global-tech-sales-to-surpass-1-tn-in-2012-forecast/articleshow/11424854.cms