That's according to an article by Broadcasting & Cable Magazine.
The CEA said in October that CE sales revenue would rise 3.5 percent in the fourth quarter despite the sagging economy. However, the trade group now says that revenue will rise by just one-tenth of a percent, compared to last year's fourth quarter.
As predicted here, consumers are apparently buying smaller, less expensive sets from discount retailers instead of the big-screen flat-panel. Consequently, unit shipments rose 22 percent in October, but revenue actually fell three percent for the month, the CEA said.
The group said consumers are reacting to the negative economic reports.
"The severity and the speed of declines in these unprecedented times caught everyone off guard," the CEA said.
In the good news department, the CEA said that 54 percent of consumers who shopped on Black Friday purchased a consumer electronics product, making it the second most purchased product behind clothing.
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