Global smartphone market will decline by 2.3% in 2020 due to coronavirus

According to a recent forecast from market research company, IDC, the coronavirus epidemic will most likely have a negative impact on the global smartphone market. In 2020, the global smartphone market will decline by 2.3% and shipment will be just over 1.3 billion units. The epidemic situation will slow down smartphone shipments and it will decline by 10.6% year-on-year in the first half of 2020. However, IDC believes that global mobile phone shipments may increase again in 2021. The 5G network will be more popular and more affordable. Thus, smartphone shipment should increase

IDC smartphone shipments

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In all, IDC expects the manufacturing and logistics industries to take several quarters to recover. IDC senior research analyst, Sangeetika Srivastava, said in a statement: “Although China is the largest smartphone market, it will be hit the hardest, and other major regions will also be hit by supply chain disruptions.”

IDC research manager, Will Wong said: “We predict that the domestic smartphone market in China will decline by nearly 40% year-on-year in the first quarter. Even if a recovery may occur in March, it will still be difficult to reach the level of last year”.

The Coronavirus situation all started in Wuhan, China, and the country has suffered the most. Many industries and factories are just resuming production after the Chinese holiday which ended weeks ago. It is going to take some time for these companies to return to normal operations.

Source/VIA :
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