An Insider's Take on the Future of Consumer Electronics
Byline: Chris Versace, SPECIAL TO THE WASHINGTON TIMES
With 2012 behind us and the fiscal cliff narrowly averted for now, investors can get back to investing, and that means keeping up on the latest new thing and disruptive technologies. One of the best ways to do that is to keep tabs on the annual International Consumer Electronics Show (CES) held each January. I recently spent some time with Gary Shapiro, president and CEO of the Consumer Electronics Association, the industry's biggest trade groups.
Q: What is the Consumer Electronics Association and its role for consumers?
A: The Consumer Electronics Association is the pre-eminent trade association promoting growth in the $206 billion U.S. consumer electronics industry. More than 2,000 companies - large and small - enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES - The Global Stage for Innovation. All profits from [the trade show] are reinvested into CEA's industry services.At CEA, we focus on fostering innovation, as a national strategy and as part of our mission, all year long. For consumers, this means we promote the development of exciting new technologies, products and services.
Q: How did the industry fare this holiday shopping season, which seemed to start off strong in late November but fizzled before too long?
A: CEA research suggests the holiday sale season began slowly - likely as a result of the elections pulling consumer attention. Spending, however, began to accelerate into November. The Black Friday week was the strongest in history. Overall, we expect retail sales this holiday season to grow 3.4 percent - slightly below last year's results but above the 10-year trend. CEA expects electronics and appliance holiday retail sales to grow 2.2 percent - slightly above last year and above the 10-year trend.
Q: It seems PCs and e-readers are losing out to tablets. Any noteworthy products this year?
A: Tablet ownership has increased from 1 in 5 households at the beginning of the year to 1 in 3. We are seeing a tremendous number of devices launch around these hub devices, including health and fitness products and new technologies to stream audio from tablets to higher-quality speakers and audio systems. 2012 brought the launch of the next generation of TV - ultra HD. Ultra HD features a picture with four times more detail than on high-definition sets, creating an incredibly immersive viewing experience. …