Gartner says tech spending to drop 6 percent

Jul 07, 2009

(AP) -- Research firm Gartner says worldwide spending on technology products and services is on track to decline 6 percent this year.

Gartner Inc. said Tuesday it expects tech to fall to $3.2 trillion this year, down from $3.4 trillion in 2008.

The drop is steeper than the 3.8 percent decline had projected for the year in March.

The decline is due to the and the rising value of the U.S. dollar against most currencies. That means purchases made in other currencies translate into fewer dollars for U.S. tech companies.

Last week, Forrester Research also lowered its global tech spending forecast, saying it expects the market to shrink by 5 percent, not the 3 percent it predicted in March.

Both firms are forecasting a recovery in 2010.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Google's new CFO gets $70M for defecting from Morgan Stanley

add to favorites email to friend print save as pdf

Related Stories

Report: Worst may be over for US tech market

Jun 30, 2009

(AP) -- As bad as the technology market fared in the first quarter of this year, the worst may be over, at least in the United States, Forrester Research said in a report Tuesday.

Record 12 pct drop for PC sales in 2009: Gartner

Mar 02, 2009

Sales of personal computers are expected to decline by 11.9 percent to 257 million units in 2009, the steepest drop in the industry's history, market research firm Gartner said Monday.

PC shipments slide in 1Q, HP tops Dell in US (Update)

Apr 15, 2009

(AP) -- Global shipments of personal computers fell 7.1 percent in the first three months of the year, but the decline was smaller than expected and research group IDC on Wednesday said the industry could turn around by ...

Mobile phone sales up six pct in 2008, 4th qtr weak

Mar 03, 2009

Mobile phone sales grew by six percent in 2008 over the previous year but fell nearly five percent in the fourth quarter as the global economy weakened, market research firm Gartner said on Tuesday.

Recommended for you

Yahoo boosts share buyback plan by $2 billion

12 hours ago

Yahoo on Thursday told US regulators that it will spend another $2 billion buying back shares as the pioneering US Internet search firm continues an effort to re-invent itself.

Uber ramps up safety efforts after criticism

Mar 25, 2015

Uber said Wednesday it was ramping up safety in response to rape allegations against a driver in India and growing concerns about background checks for operators of the popular ride-sharing service.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.