Spending on Gadgets to Break $1 Trillion in 2012

During the holiday season, camcorder sales plummeted 43 percent and sales of GPS units fell 33 percent in the US. Best Buy Co., the largest US-based electronics retailer, recently disclosed that sales at stores open longer than a year fell 1.2 percent in December.

However, analysts predict that sales of electronic gadgets will break the $1 trillion barrier for the first time in 2012. Why? The rise of middle classes in developing nations across the world. The AP has details here.