The year 2009 was marked as the worst global economic slowdown since the Great Depression in the 1930s. It would be remembered as the year in which the world economy declined to its lowest level, suggesting that it has been as fragile as ever. One of the sectors affected by this global situation was the electronics industry. With consumers not spending their hard-earned money on electronic devices and gadgets, manufacturers and the supply chain experienced a ripple effect.
Sales of electronic parts and devices in 2009 recorded a drop of 10 percent, which caused a downturn in the sales of electronics companies worldwide. Additionally, the semiconductor industry also expected a decline in global sales in capacitors, resistors and inductors. Due to these trends, electronic parts and components suppliers revised their business strategies and concentrated more on their core businesses in order to deal with the current economic condition. In fact, they saw that it was essential to invest in assurance and quality inspection projects due to the arrival of substandard and counterfeit parts on the market. Many established suppliers and manufacturers placed all their efforts into producing quality products for the market to protect their customers from buying counterfeit items.
With the improvements seen in the later part of 2009, sales of electronics supplies and devices were expected to increase at the end of the fourth quarter and even more in 2010. Since consumer confidence is returning, it is suggested that 2010 would be the start of the bloom in the electronics industry.
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