With 1993 sales of consumer electronic products estimated near $ 40 billion — up more than $ 2 billion from 1992 — the industry is optimistic about growth for 1994, according to the chairman of Electronic Industries Assn./Consumer Electronics Group.
“We’ve got an economy that is recovering,” Jerry Kalov told an audience of several thousand at the Consumer Electronics Show, which ended Sunday. “There is consumer confidence and the chemistry is better.”
The industry predicts 1994 sales in excess of $ 41 billion, led by video products at $ 14.6 billion, followed by audio products at $ 10.7 billion.
By product category, video led the way in 1993 with an estimated $ 14.2 billion in sales — up from the previous year’s $ 13.1 billion — from such products as color, projection and monochrome TVs, videocassette players, VCR decks, camcorders and laserdisc players.
One of the biggest winners in the video category, TV/VCR combinations almost doubled in sales from 1992’s figure of $ 375 million to a total of $ 713 million in 1993.
Sales of home satellite earth stations in 1993 fell to $ 375 million from 1992’s sales figure of $ 408 million. Sales of laserdisc players, which had been climbing steadily since 1990, remained almost unchanged, with 1993 estimated sales expected to be $ 90 million, compared with 1992’s $ 88 million.
Audio products were the next best performers, with an estimated $ 10.3 billion rolling in from such products as audio systems, audio components, home radios and portable equipment. The previous year’s total was $ 9.8 billion.