Arlington, Va. - U.S. consumer electronics revenue is expected to reach $173 billion this year, $2 billion more than previous forecasts, according to new data from the Consumer Electronics Association (CEA).

The organization credits the increase in digital display sales, which are expected to climb 24% this year leading into February's transition to digital TV signals.

"With prices continuing to drop, consumers are deciding the time is right to upgrade to digital," said Steve Koenig, the CEA's director of industry analysis.

"By the end of the year, more than 60 percent of U.S. households will have at least one digital television."

Video games also remain a hot category, with revenues once again reaching record highs, while smartphones are expected to see revenue growth of 51%.

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