US Holiday Electronics Sales Drop 5.9 Percent
A research firm says U.S. sales of consumer electronics fell 5.9 percent this past holiday season, as smartphones cannibalize sales of standalone gadgets like cameras, camcorders and GPS navigation devices.
The NPD Group says electronics sales, including TVs and PCs, totaled $9.5 billion in the five weeks ending Dec. 24.
Camcorder sales plunged 43 percent, and sales of digital picture frames fell 38 percent. GPS units slumped 33 percent. PC and TV sales slipped just 4 percent, bolstered by sales of TVs bigger than 50 inches.
The figures were released Sunday as the consumer electronics industry gathered in Las Vegas for its annual trade show, the largest in the Americas and one of the largest in the world.