Quote of the day: No more 'little labs' for tech companies

"Companies no longer have a little lab where they invent things themselves and come out into the market and the world and expect it to be a big success," said George Bailey, co-author of a recent book on how to succeed in the consumer electronics industry.

"In fact, a lot of the big breakthroughs you see are coming out of companies collaborating together," Bailey said, pointing to Sony Ericsson's recent success with CyberShot and Walkman-branded products.

Among new strategies in the consumer electronics business: Collaboration; pursuing high-end markets; and good old-fashioned customer service. Click here to read the full article.