Consumer Electronics: Innovate or Die
In May 2008, The Wall Street Journal reported that 11%-20% of all electronics goods are returned. Sony's (SNE) senior vice-president, Mike Abary, explained that defects "aren't even the top three reasons for returns." The top reason? The products "didn't meet expectations." According to the article, an Accenture report shows that it costs the U.S. electronics industry $13.8 billion to rebox, restock, and resell the returned items, eroding the industry's ability to attract and then create loyal customers. Quite a high price to pay for a problem that has a solution.
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