Jim Barry, spokesman for the Consumer Electronics Association say Americans may spend more on gadgets this year compared to 2007, by about 6 percent. Despite a looming recession in USA, its may not be rosy after all and you can see some evidence like Bear Stearns, an investment bank in USA going bankrupt.

Americans may grasp their wallets a little tighter these days, but the consumer-electronics industry is trying to earn its share of those dollars with smaller, more useful gadgets.

Americans are expected to spend $170 billion on consumer electronics this year, an increase of about 6 percent over 2007 spending, said Jim Barry, spokesman for the Consumer Electronics Association.

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