If you are a fan of Smartphones, then we have some bad news for you. The global smartphone shipment is severely affected by Coronavirus, as it has already taken it down by 38%. Companies report that due to the outbreak of COVID-19 people are refraining from coming to the retail stores. Due to which the market is coming to a standstill in purchasing new smartphones.
The Director of Strategy Analytics Linda Sui reports, “global smartphone shipments tumbled a huge 38 percent annually from 99.2 million units in the month of February 2019, to 61.8 million in February 2020.”
Troubles at the Chinese Market
It is safe to say that all businesses are suffering due to the spreading of Coronavirus. But the smartphone industry has it extra bad, as China contributes a lot towards that market. According to Statista, in 2019 alone, China produced more than a billion smartphones. So, taking that into account, a global drop of 38% is going to reflect very badly on the Chinese industries. Although China is recovering from the epidemic at a surprising rate, and there have been no cases in the past two days.
But the damage that has been done will take quite some time to recover. Experts believe that the slow pace of the smartphone market will continue until the month of March. Others argue that the suffering Coronavirus is causing around the world is terrifying. So, getting back that 38% will be far more complicated than we realize. Economies will take quite some time to get back on their feet. Thus, the smartphone shipments will be in decline for many months to come.
Troubles in February
According to Neil Mawston, the executive director at Strategy Analytics, “February 2020 saw the biggest fall ever in the history of the worldwide smartphone market. Supply and demand of smartphones plunged in China, slumped across Asia, and slowed in the rest of the world. It is a period the smartphone industry will want to forget,”
To sum it up the situation, February 2020 will always be remembered in human history as the worst outbreak of Coronavirus. Many businesses, including the smartphone industry, will spend years recovering from the damage of this scale. Unfortunately, many will go out of business or will struggle to become profitable again. The month of February was indeed the worst for the global smartphone market.