DVD Sets Industry Sales Record ñ Video Player Technology Claims Title Of Fastest Selling Consumer Electronics Product In History

DVD players have achieved a status unequaled by any other product in consumer electronics history. The Consumer Electronics Association (CEA - formerly CEMA) announced today that DVD players are officially the fastest selling product of all time in consumer electronics.Since the introduction of DVD technology into the marketplace in 1997, sales have been consistently high. In their first year of production, DVD player sales totaled approximately 349,000 units. In the next year (1998), the figure more than tripled, totaling 1,079,000 units. To date, 1999 sales have topped 3.1 million units (to retailers), with CEA predicting that holiday sales will drive the number closer to 3.5 million.""While monumental, this announcement will come as no surprise to many CE enthusiasts,"" said CEA President Gary Shapiro. ""The added benefits of enhanced picture quality, digital sound, multiple aspect ratios, various language tracks, and interactivity - all unique to DVD - make this technology purchase an easy decision for consumers.""Previously, products such the VCR, CD player and home satellite system have been cited as groundbreaking in terms of the number of units sold in the shortest span of time. In their first year of sales, DVD players surpassed by almost ten times the first year sales mark of CD players in 1983. DVD video technology has now officially achieved the ""fastest seller"" record, with an installed base of almost 4.5 million units in its first three years.""More and more, we are seeing consumers lean towards digital as the technology of choice in video products,"" said Shapiro. ""Consumers who experience digital video quickly recognize, and are immediately attracted to, its superior quality. This interest is driving consumers into retail outlets, and spurring extraordinary growth across the entire video category.""The results of a survey conducted by CEA (then CEMA) in late 1998 indicated that approximately 9 million households were at least somewhat likely to purchase a DVD player over the course of the ensuing 12 months. After adjusting the numbers to those ""very likely to buy"" and accounting for overstatement, total consumer purchases were estimated to reach 2 million in 1999. It is now clear that consumer demand has more than exceeded expectations.