The rapid advancements and technological changes worldwide are affecting the consumer electronics industry dynamically. Products, both new and old, are undergoing rapid changes, spawning an endless chain of new innovations and services. For example, the iPod has completely revolutionized how people listen to music and transforms the way consumer electronic devices are designed, manufactured and used.
The amazing array of smart phones, tablets, 3D TV and GPS devices in the market are changing the way changing the way people interact, consume entertainment, manage their finances and organize their lives. At the same time, new trends and developments in social media and digital content delivery are driving the need for newer devices that, in turn, leads to competitiveness and growth in the consumer electronics industry. Consumer demand for cheaper and better devices are shrinking product lifecycles and putting pressure on electronic companies. Simultaneously, the consumer electronic industry is further being shaped by emerging sustainability concerns, regulatory pressure and the adoption of contract manufacturing, all of which have moved from discussion to reality in less than a decade.