Especially in the western world, consumer electronics are now considered to be one of the most important aspects of day-to-day life.
Indeed, even from a practical point of view, most companies would now be unable to operate without technology – one example being big business becoming increasingly dependent on ecommerce, meaning widespread use of laptops and reliable internet connections have become invaluable.
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The growth of the mobile phone and tablet has had far-reaching impact far beyond the technology industry, too – as consumers increasingly view media and contact businesses through using platforms, most companies are having to alter their marketing strategies in order to capitalise on these new markets effectively.
Arguably the first company to truly take advantage of customer demand for low-price, high-end consumer electronics, Apple still remain market leaders and technological tastemakers. Originally starting out as a computer manufacturer, they are now known for their iPhone, iPad and iMac range of products – and now earn a huge proportion of their income through their third party sales platforms (such as the App Store).
Over the course of the past few years, this dominance has been challenged by Samsung. Although traditionally coming from the world of white-goods, the South Korean brand has been the world’s fastest growing producer of smartphones under their Samsung Galaxy brand, while also rapidly increasingly their share of the tablet market – all in addition to their usual strength as a television manufacturer.