Instead of a white Christmas, we are set for another ‘Technology Christmas’ worldwide. The gadget mania is attacking the world from the United States to China. If you are shopping for Christmas gifts or presents for your loved ones, chances are that you’ll be looking in the technological section. There is always some gadget to suit your desire or budget ranging from iPod to Plasma TV.
The global market share for consumer electronics is expected to reach US$618.6 billion or US$100 per person on the planet. It is expected to grow even further to US$667.5 billion in 2008. At the top of the gadget list will be flatscreen TVs, laptops and mobile phones. The gadget mania may have hit the global world but the gadgets that are popular in the various countries differ. For instance, the 1.3 billion strong Chinese market is dominated by mobile phones while more established economies such as the United States, Europe and Japan witness an increase in plasma and LCD TV sales as consumers spend on upgrading their ‘home entertainment’ systems.
Despite the surge in technological mania, technological businesses are not making much bigger profits as expected. Advances in technology have led to lower costs. Gadgets are sold at increasingly cheap and affordable prices. Thus, the increase in sales volume is balanced by a lower profit margin.
All in all, the technological mania is set to stay. Gadgets have revolutionised the way we live and play, as well as the world of business and shopping.