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Consumer Electronics

Sony (SNE): US Consumer Electronics Are Doing Fine

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By Douglas A. McIntyre Published
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Consumers in the US cannot afford cars and houses, at least not based on current economic information.

A look at the McDonald’s (MCD) numbers show that people can still buy hamburgers and premium coffee, but what about things that cost a little more.

According to Sony (SNE), the US slowdown is not hurting sales of consumer electronics. That may make sense. Recent comScore data shows that online sales of electronics and game consoles are up about 100% from the holiday season last year.

But, the CEO of Sony put a point on that. The shaky economy "has not affected electronics in the U.S. We are holding up," Howard Stringer, the CEO of Sony said, quoted in The New York Times. "Black Friday turned out to be very good for consumer electronics sales, and very good for PS3 (PlayStation 3) sales, PSP (PlayStation Portable) sales and beyond.", he added.

What the US economy may be seeing is half a recession, one in which the consumer will not buy high ticket items. He no longer has the home equity loan and his mortage is about to reset to a higher payment.

But, the American consumer does not appear to be willing to give up his beer, fast food, and electronics gadgets. Not yet, anyway.

Douglas A. McIntrye

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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