Hyundai protects buyers who lose their jobs; December's another disaster for car sales; "solar Prius" may be a crock; and sit down for a beer with Wayne, Antuan, and Brian.Listen now: Download today's podcast SHOW NOTES
Global sales of chips sank 9.8 percent in November, underscoring the impact the worldwide economic crisis is having on chipmakers, the Semiconductor Industry Association said Friday.
The San Jose, Calif.-based trade group said worldwide sales of semiconductors fell in November to $20.8 billion, a decline of 9.8 percent from November 2007 when sales were $23.1 billion.
Sales were down 7.2 percent from the $22.4 billion in October, according to the SIA.
Memory chips are putting the biggest damper on growth. Excluding memory, there was a slower year-on-year decline of 4.8 percent to $… Read more
Online holiday spending declined 3 percent compared with last year's online shopping season, the first negative growth rate in the past eight years, according to a ComScore report released Tuesday.
Between November 1 and December 23, U.S. online merchants recorded $25.5 billion in sales, down from $26.3 billion during the same period last year, ComScore reported. Gian Fulgoni, the research firm's chairman, blamed economic pessimism for the poor results:
The combination of having five fewer shopping days between Thanksgiving and Christmas and the severe economic headwinds faced by consumers has made this a really tough … Read more
Over the next few days, a picture of holiday sales will begin to materialize.
One of the first reports to surface doesn't sound incredibly painful until specific categories--like electronics--are broken out. And then the hurt becomes obvious.
MasterCard Advisors, a unit of the credit card giant, released on Friday its SpendingPulse analysis of national retail and service sales for the holiday-shopping season.
Overall retail sales year over year (excluding gasoline, which doesn't make a great holiday gift anyway) were down 2 percent in November and down 4 percent from December 1 to 24.
Overall, e-commerce fared relatively well … Read more
Here's a little statistical cheer for online retailers bracing themselves for what many have been predicting will be a dismal holiday sales season.
The latest online retail spending report released Tuesday by ComScore shows that consumers last weekend spent almost double what they spent on the corresponding weekend before Christmas last year. U.S. consumers online spent $677 million last weekend, December 20 and 21, compared to $341 million the weekend before Christmas in 2007, which was December 22 and 23.
It should be noted, however, that there are five fewer days this year between Thanksgiving and Christmas, making … Read more
Ever since Apple stopped listing exact sales numbers for iPhone App Store applications, developers have been seeking some sort of guide to how sales rank translates to actual unit totals. One developer, Joel Comm, has released rank-to-sales stats for his dubious "iFart Mobile" application, as follows:12/12 - 75 units - #70 entertainment 12/13 - 296 units - #16 entertainment 12/14 - 841 units - #76 overall, #8 entertainment 12/15 - 1510 units - #39 overall, #5 entertainment 12/16 - 1797 units - #22 overall, #3 entertainment 12/17 - 2836 units - #… Read more
Holiday spending on electronics for family members remains high on the to-do list, according to a survey by IDC and the National Research Network (NRN).
According to results from a survey of more than 3,000 consumers, 62 percent indicated they planned to spend the same amount or more on electronics for family members this holiday.
Those surprising results come as big-box electronics retailers face a challenging time. Best Buy announced a 77 percent drop in earnings and call for employee buyouts earlier this month and Circuit City filed for Chapter 11 bankruptcy last month.
Nonetheless, consumers are maintaining their … Read more
New York wants a share of iTunes' money.
The state is staring at a $15.4 billion deficit so Gov. David Paterson is proposing an "iPod tax" as part of his state budget. Under the plan, New York would charge state and local sales tax for "digitally delivered entertainment services," according to a story in The New York Daily News.
That includes e-books downloaded to Amazon's Kindle as well as for the digital songs obtained from Apple's iTunes. If the state legislature passes the governor's plan, the price of digital content for New … Read more
This blog was corrected at 3:35 p.m. PT to clarify the number of Best Buy employees offered buyouts.
Although Black Friday sales were better than expected, Best Buy's third-quarter earnings brought another heaping of bad news for the embattled electronics retail industry.
For the third quarter of 2008, Best Buy reported earnings Tuesday of $52 million, or 13 cents per share, on revenue of $11.5 billion. Wall Street had been anticipating earnings of 24 cents per share and revenue of $11.09 billion. It's a 77 percent drop from the same quarter a year ago, … Read more