The global smartphone market
It is well-known that the situation of the global smartphone market is going to face a bad situation, but probably not as bad as the level since 2013. Apple was busy reporting and estimating its earnings, and Canalys just declined some of its market figures, and none of them are so pretty. After two-quarters of high demand, the global smartphone market has taken a significant hit, and the culprit is also well-reputed.
The mobile industry has joined a lot of other companies that have already taken an enormous hit because of the novel coronavirus pandemic, with the shipments reduced 13% from this period.
What do experts predict?
Analyst Ben Stanton mentioned the word “crushed” to highlight the impact of the COVID-19 on the global smartphone market. During February, when the virus appeared in China, vendors didn’t pay heed that much, they were concerned about the way to build more smartphones to meet up the global demand, but in March, the situation was changed remarkably. Though smartphone manufacturing has somewhat recovered, the sales have heavily plummeted as more than half of the world is in lockdown.
Firstly, the impact was on the global supply chain, which is centered in Asia. Also, there was a drop in demand among consumers in China. But demand in the market of Europe and the USA has taken a notable hit since these places continue to dwell under shelter. People are now stuck inside their homes, and many have already lost their jobs. So, it is not really a perfect time to sell those smartphones at $1000+, as it seems a luxury for a lot of people. Samsung is still at the apex position, though it has lost significant numbers. Samsung, as well as the second apex company, Huawei, were dropped 17% for the quarter.