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Folsom Predicts ... $12 Billion Electronic Sales in '55 vJales approaching twelve billion dollars annually for the electronics industry by 1957 were forecast by Frank M. Folsom, President of RCA, in a talk on September 23 in Chicago discussing the outlook of color television and other promising components of what he described as an "utterly amazing industry." Mr. Folsom, addressing a meeting of the Investment Analysts Society of Chicago, reported on the results of a survey covering sales and estimated sales of elec- tronic products over a twelve-year period beginning in the postwar year of 1946. "Total annual sales of the electronics industry," he said, "grew from $1.6 billion in 1946 to $8.4 billion in 1953. Further growth is projected, as follows—1954, $8.8 billion; 1955, $9.5 billion; 1956, $10.9 billion; 1957, $11.8 billion." The domain of electronics is so vast and so rapid is its rate of development that it seems hard to believe that eight years ago the industry was only one-fifth its present size, Mr. Folsom declared, adding: "In those eight years, electronics has assumed a stature that commands high respect in all branches of finance, trade and industry. It is the vital factor in all forms of modern communications; all modern means of mass entertainment depend upon it—radio, tele- vision, talking movies, tape sound systems, and phono- graph recording and reproduction; modern transporta- tion must have its controls and communications; the military uses it in myriad ways; and even atomic de- vices depend on it." Study Covers Principal Components Mr. Folsom said that the study of the industry took into consideration the principal components, as follows: Home and Portable Radios —This field once represented the chief source of revenue in our business. Today, because of television and chang- ing habits of the people, sales are declining gradu- ally—from a postwar peak of $600 million in 1947 to an estimated $109 million in 1956. Auto Radios —Relatively stable sales somewhat in excess of SlOO million annually. Frank M. Folsom, center. President of RCA, chats with Fred J. Stock, President of the New York Board of Trade, and Henry L. Lambert, Chairman of the Mercantile Sec- tion of the board, at meeting addressed by Mr. Folsom in New York last month. Black-and-Wbite Television — Postwar growth was spectacular, with sales increasing from $1 million in 1946 to $1.4 billion in 1950. Sales in 1953 totaled $1.2 billion, and nearly $1 billion is expected in 1954. A drop to $388 million is pro- jected by 1957, due to the shifting of the mass market from black-and-white TV to color. Color Television —Following commercial introduc- tion in 1954, increased volume is expected to more than offset reduced sales of black-and-white tele- vision, reaching $264 million in 1955, $767 million in 1956, and $952 million in 1957. This would mean a total of nearly $2 billion (at factory prices) during color television's first three years. Repair Parts (chiefly renewal tubes) —Steady growth is expected to continue in support of in- creased receivers in service. Volume amounted to $217 million in 1953, and is estimated at $454 million by 1957. Servicing and Installation —This important ele- ment has grown from $145 million to 1946 to ?0 RAD/O AGE