It’s the news that the electronics companies gathering in Las Vegas for the Consumer Electronics Show did not want to hear – cash-strapped consumers are preparing to cut back on their technology spending.
A new survey of North American consumers by research group Forrester found that 51% of consumers plan to cut technology spending in the coming year because of the struggling economy.
The area expected to take the greatest hits include handheld video game players, followed by satellite radio, smartphones, video game consoles, and portable GPS devices.
“While no device is immune from consumer spending cuts, new devices such as satellite radios and handheld video game players are the most likely to be left off the priority list,” the report says.
“Two thirds of consumers, regardless of their previous intentions, said that they are less likely to purchase these two devices in a recession, while a scant 3% said that they are more likely.”