Global technology spending seen down 1 percent in 2014 on lower prices of tablets, smartphones
LAS VEGAS (AP) — The Consumer Electronics Association estimates that global spending on technology will slip 1 percent this year to $1.06 trillion as the lower average selling price of smartphones and tablets offsets unit growth in markets like China.
The decline is off the peak of $1.07 trillion estimated this year.
The retreat doesn't reflect less consumer appetite for what Koenig called the "dynamic duo" of tech gadgets. Spending on smartphones and tablets is still expected to account for some 43 cents of every dollar spent on technology this year.
Smartphones and tablets remain such key drivers of technology spending that they are eating into other categories of devices like point-and-shoot cameras, video cameras, portable GPS devices and handheld gaming devices.
However, within other categories of devices there are a few pockets of growth, including wearable devices.
There were 60,000 such sets sold in the U.S. alone last year, a number expected to hit 485,000 this year, the association said. However, that's still a small number compared to the nearly 40 million TVs sold in the U.S. each year, DuBravac said.