China Account For Growing Share Of Global CE Retail Sales
Global retail-level CE sales are growing, and so is China's share of the pie, according to Germany-based research company GfK Retail and Technology. The company also found smartphones accounting for a significant and growing share of global CE sales and that combined sales of smartphones and other cellphones exceeds sales of flat-panel TVs. In a presentation during the China International Consumer Electronics Show (SINOCES), GfK Group GM Juergen Boyny forecast that global retail-level CE sales will grow in 2011 by 6 percent to 668 billion euros ($937.3 billion at an exchange rate of $1 to 0.71 euros) compared with 19 percent growth in 2010 and a 5 percent decline during the Great Recession year of 2009. In each of these years, China accounts for a growing share of global retail-level CE sales, GfK said. In 2011, China's share will grow to 13 percent from 2008's 10 percent while Europe's share shrinks from 35 percent to 28 percent, Boyny said. In 2011, North America's share will remain at 21 percent, the same level as it was during the previous three years.
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