Hey lewbobski, changed a word in your post from products to parts assuming that is what you meant. Let me know if you really meant products...
I did go into major research mode over the last number of days and was preparing to remove my calf and foot from my mouth. Thanks Leonard for the link, you beat me to it...
Lewbobski, you are correct - it is a myth!
Most myths and legends are tied to some event that has been misconstrued and that is what I cannot find. What I have found is that most of us think this law exists so I am in good company over my career. Nearly all information concerning parts availability relates to the automotive industry. At the FTC all I could find about electronic parts was one case concerning Kodak decades ago related to their decision to stop providing parts to independent service centers for repairing copy machines. An interesting case and outcome, Kodak won, that many still do not agree with since it has been used as precedence in other cases. In the Kodak case the FTC was far more concerned about the ability to control markets, monopoly, and how that affects consumers rather than protecting the free market ability to get the product serviced by independent servicers, not just Kodak. The FTC believed that the Kodak copier business was not large enough to enforce a monopoly on the consumer. There were other arguments related to patent because that was the legal stance Kodak was taking to affirm it's right to not sell the parts.
What I have found is numerous statements that make it clear the FTC believes in the power of free markets and if a manufacturer is doing something that the consuming public thinks is wrong they will lose their market position and business if they don't correct the problem. No manufacturer is required to provide a warranty on their product yet the FTC also points out that sales may be difficult without one.
It appears the key ingredient to any case one would have against a manufacturer relates to: the product must be of normal durability, considering its nature and price.
Any consumer rights or consumer protection law has been left to the states so check your consumer affairs department for yours.
Interesting reading for those who want to know more...
Federal Trade Commission
http://www.ftc.gov/bcp/conline/pubs/bus ... ranty.shtm
I provide this quote for two reasons. The first is the legal term and time frame of a recall which for electronics comes in the form of class action lawsuits and that appears to be covered in the following. Another is the statement of how long a product should last.
Generally, there is no specified duration for implied warranties under state laws. However, the state statutes of limitations for breach of either an express or an implied warranty are generally four years from date of purchase. This means that buyers have four years in which to discover and seek a remedy for problems that were present in the product at the time it was sold. It does not mean that the product must last for four years. It means only that the product must be of normal durability, considering its nature and price.
BTW, this means that companies that do work something out for the consumer when parts aren't available are really good guys. I have seen Mitsubishi do this a number of times.