Analysts: Gadget sales should top $1 trillion in 2012

Developing countries such as China and India will drive global sales of consumer electronics above $1 trillion this year for the first time, even as cash-strapped shoppers in the United States and Western Europe ease off spending for high-tech gear, industry analysts forecast. Developing countries will account for 46% of global gadget sales in 2012, up from 37% four years ago, according to GfK Boutique Research and the Consumer Electronics Association. The groups presented their forecast ahead of the massive International Consumer Electronics Show, which kicks off Tuesday in Las Vegas. Their estimate of 2012 global electronics sales, at $1.038 trillion, represents growth of 5% from last year. That compares to growth of 8% from 2010 to 2011. Consumers in China and other developing Asian countries, Latin America, and Central and Eastern Europe are snapping up high-tech goods as they climb toward a middle-class lifestyle. Meanwhile, gadget sales in the United States, Japan and Western Europe are stagnant, unlikely to command a higher share of consumer spending. Separately, NPD Group reported Sunday that U.S. sales of consumer electronics fell 5.9% this past holiday season, as smartphones cannibalize sales of standalone gadgets like cameras, camcorders and GPS navigation devices. Read the full story here.