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To: Johnny Canuck who wrote (45186)	12/4/2008 10:56:29 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 71944

Consumer Electronics Association revises holiday forecast Module body 1 hour, 28 minutes ago 0 * What's this NEW YORK (AFP) - The US Consumer Electronics Association (CEA) revised downward its forecast for the fourth quarter of the year, saying sales over the holiday season would remain virtually unchanged from last year. ADVERTISEMENT The CEA said fourth-quarter wholesale shipment revenues would increase by 0.1 percent over the same period in 2007. In October, the CEA had forecast 3.5 percent fourth-quarter growth. "New data shows the economy and consumer sentiment remain muted and CEA surveys show overall spending is down this holiday season," the CEA said in a statement. "The revised holiday forecast also reflects new data indicating that holiday shoppers are opting for smaller, less expensive TVs and other CE (consumer electronics) products purchased at discount retailers," the association said. The CEA said mobile phones will see five percent growth in the fourth quarter, a projection revised downward from the October forecast of 11 percent growth. It said discounts on laptops and an increased interest in smaller, lower-priced laptops known as netbooks are impacting the computer category. It projected a year-over-year revenue decline of two percent for the category, down from the earlier estimate of negative one percent growth. "Although CEA certainly took price declines and weakness in consumer demand into consideration, the severity and the speed of declines in these unprecedented times caught everyone off guard," said Jason Oxman, CEA's senior vice president of industry affairs. "Consumer sentiment is improving, but shopper unease this holiday season is creating challenges for all sectors of the economy, including consumer electronics."