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Best Buy Stung by Tech Spending Slump

While sales of notebook computers and mobile phones were solid, the long-running TV expansion run has slowed.



) -

Best Buy's

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surprising miss

shows tech consumers flinched this spring as the global economic rebound stalled in Europe.

The report from the top electronics retailer Tuesday seemed to point at weak TV sales and a drop in demand for games, videos and music. But on the brighter side, Best Buy said it saw strength in notebook computers, mobile phones and appliances.

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If true, this could mean that the PC sales recovery is still going strong, a good sign for computer giants


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Perhaps more telling of the general consumer appetite is the slowdown in TV sales. The supersizing trend in HD TVs has been one of the strongest and more resilient segments of the tech market. The decline in TV sales is not good news for LCD glass makers like


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or TV panel makers like

LG Display

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Tech stocks have taken a beating recently, the Nasdaq fell 8% last month amid fears that global economic expansion would be derailed by debt crises and the weakening of the euro.

Corning shares were down 1% to $18.12 in premarket trading Tuesday.

--Written by Scott Moritz in New York.