BUSINESS Smartphone market to dip in wake of outbreak

BUSINESS

Smartphone market to dip in wake of outbreak

China Daily

07:34, February 08, 2020

5e3ba612a3101282064fef00.jpeg

A Xiaomi Mi MIX Alpha surround display 5G concept smartphone is displayed at a product launch event in Beijing, China Sept 24, 2019. (Photo: China Daily)

The Chinese market will ship 5 percent fewer smartphones than expected in 2020, with global smartphone shipments to see a 2 percent drop as the outbreak of novel coronavirus impacts supply and manufacturing, a report forecast.

According to the latest data from market research company Strategy Analytics, China makes 70 percent of all smartphones sold on the planet. Any delay of operations for factories, through quarantine or travel restriction, will inevitably cause a temporary labor supply shortage.

The smartphone market will be adversely impacted by slowing GDP growth and plunging consumer spending, due to the fear and "paralysis" caused by coronavirus, the firm added.

The biggest impact will be in China, but other connected economies will feel a ripple, like Japan or the US, the report said.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue