Description: Consumer technology, Trends & Innovation
It’s been a rough few years for those firms selling consumer electronics; the lack of new formats and technology advances combined with razor-thin margins and increased competition from non-traditional competitors has taken its toll. Philips has finally thrown in the towel after years of struggle; Sharp is on a knife-edge; Sony has recently stemmed its haemorrhaging of money but is still making a loss; and Cisco has given up on its consumer aspirations.
What has caused this massive decline? Consumers are still buying “technology,” so someone is doing well. Why can’t CE firms compete?
Can CE firms recover? There are two schools of thought here.