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Declining Industry

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Declining Industry
An industry producing one or more products that are declining in demand, profitability, or both. A declining industry may be suffering losses, or it may still be making a profit that has been shrinking consistently. An industry may go into decline for a number of reasons. The economy may decline and the industry's products may suddenly be considered luxuries. Alternatively, a new technology may be developed that renders an industry obsolete. For example, the video cassette recording (VCR) industry was performing well for approximately 20 years. However, the introduction of DVDs, which are more efficient and of higher quality, turned the VCR industry into a declining industry. See also: Industry Life Cycle.


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When I got through the interview process I thought it was a sign - I am a mechanical engineer working in a declining industry and this was maybe something different.
The conventional munitions industrial base today is a declining industry for which 56 percent of the end items have no peacetime demand, capital assets have been allowed to deteriorate, and 70 percent of the firms have exited leaving over 300 critical single points of failure.
Norske Skog is still struggling in a declining industry.
 
 
 
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