Market booming thanks to games consoles and TVs.
Market booming thanks to games consoles and TVs.
The market for consumer electronics is increasingly bouyant, pushed by demand for flat-screen TVs and games consoles.
The market grew by almost 10 per cent in Western Europe over the past year, according to statistics released by the European Information Technology Observatory (EITO) in cooperation with market research company GfK.
"The consumer electronics industry in Western Europe is making 9.2 per cent greater turnover, with around 18 per cent for digital products," said EITO chairman Bruno Lamborghini.
The biggest growth areas are flat-screen TVs at 57 per cent, followed by game consoles at 38 per cent and MP3 players at 17 per cent.
EITO is also expecting strong demand for flat-screen TV equipment and game consoles in the run up to Christmas.
Demand for video cassette recorders, CRT televisions and conventional stereo systems are falling, however.
Total consumer electronics demand in 2007, including analogue and digital equipment, will continue to grow, but rather more slowly.
EITO is predicting an increase of 2.4 per cent for Western Europe, owing to a stronger decline of analogue equipment and some reduced growth in digital products.
"Many households have already updated their equipment to the latest standard, " said Lamborghini.