MP3, iPod sales facing “irreversible slump”

MP3, iPod sales facing “irreversible slump”
December 28, 2012 - 21:35 AMT

PanARMENIAN.Net - MP3 sales are in a state of irreversible decline, new research has suggested.

Sales of MP3 players, including the iPod, fell by more than a fifth in 2012, earning £381 million compared to £491 million in 2011.

Research company Mintel believes that the MP3 player will be worth just £25 million in the UK by 2017, Digital Spy reported citing The Daily Telegraph.

The decline of the MP3 player is attributed to the rise of multi-functioning smartphones such as Apple's iPhone and the Samsung Galaxy S3.

With smartphones becoming increasingly affordable, Mintel analyst Samuel Gee claimed that it is a trend "unlikely to reverse".

IHS analyst Ian Fogg, meanwhile, said that smartphones are more convenient and offer more musical choice.

It is believed that there will be more than two billion smartphones in use by 2015, double the current amount.

Apple unveiled its seventh generation iPod Nano in September. The seventh generation iPod Nano sports a multi-touch display, integrated FM tuner, widescreen video and pedometer with Nike+ tech on board. Bluetooth support for music streaming and enhanced battery life for 30 hours playback is also included.

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