Editing Consumer electronics (section)

=== Business competition ===
The consumer electronics industry faces consumers with unpredictable tastes on the demand side, supplier-related delays or disruptions on the supply side, and production challenges occurring in the process. The high rate of technology evolution or revolution requires large investments without any guarantee of profitable returns. As a result, the big players rely on global markets to achieve economies of scale. Even these companies sometimes have to cooperate with each other, for instance on standards, to reduce the risk of their investments.<ref name=":12">{{Cite journal |last1=Sodhi |first1=M. S. |last2=Lee |first2=S. |date=2007 |title=An Analysis of Sources of Risk in the Consumer Electronics Industry |journal=The Journal of the Operational Research Society |volume=58 |issue=11 |pages=1430–1439 |doi=10.1057/palgrave.jors.2602410 |jstor=4622837 |pmid=32226176 |pmc=7099209 |issn=0160-5682}}</ref> In [[supply chain management]], there is much discussion on risks related to such aspects of supply chains as short product life cycles, high competition combined with cooperation, and globalization. The consumer electronics industry is the very embodiment of these aspects of supply chain management and related risks. While some of the supply and demand related risks are similar to such industries as the toy industry, the consumer electronics industry faces additional risks due to its [[vertically integrated]] supply chains.<ref name=":12" /> There are also numerous supply-chain-wide contextual risks that cut across the supply chain especially impacting companies with global supply chains. These include cultural differences in multinational operations, environmental risk, regulations risk, and exchange rate risk across multiple countries.<ref>{{Cite journal |last1=Sodhi |first1=M. S. |last2=Lee |first2=S. |date=2007 |title=An Analysis of Sources of Risk in the Consumer Electronics Industry |journal=The Journal of the Operational Research Society |volume=58 |issue=11 |pages=1431 |doi=10.1057/palgrave.jors.2602410 |jstor=4622837 |pmid=32226176 |pmc=7099209 |issn=0160-5682}}</ref> Whether or not demand is comparable across countries affects the extent of the gains from international integration. In addition, consumer preferences change over time to disturb existing patterns of behavior. A feature of some industries is that demand for variety increases as the market moves from first-time buying to replacement demand.<ref>{{Cite journal |last1=Baden-Fuller |first1=Charles W. F. |last2=Stopford |first2=John M. |date=1991 |title=Globalization Frustrated: The Case of White Goods |url=https://www.jstor.org/stable/2486522 |journal=Strategic Management Journal |volume=12 |issue=7 |pages=495 |doi=10.1002/smj.4250120703 |jstor=2486522 |issn=0143-2095|url-access=subscription }}</ref> A resource to further understand this idea of consumer preferences can be observed through Lizabeth Cohen's book titled, "A Consumers' Republic", "Only if we have large demands can we expect large production".<ref>{{Cite journal |title=A Consumers' Republic: The Politics of Mass Consumption in Postwar America |url=http://dx.doi.org/10.1163/2468-1733_shafr_sim270040180 |access-date=2023-12-08 |website=The SHAFR Guide Online |page=116|doi=10.1163/2468-1733_shafr_sim270040180 |url-access=subscription }}</ref>