The outbreak of COVID-19 has brought a huge amount of disruption to global markets, including the technology sector. During Q1 2020, global smartphone production fell 10% on a year-on-year basis and that is now set to be followed by an even greater drop of around 16% in Q2 2020.
The first quarter of 2020 saw about 280 million smartphones produced, the lowest number in five years – as a result of supply and labour shortages. While the obstacles facing smartphone manufacturers in Q1 2020 have since been overcome, the market is now seeing a downturn in demand.
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According to TrendForce, it’s predicted that global smartphone production for 2020 as a whole will reach a volume of 1.24 billion units, an 11.3% decrease when compared to 2019. It’s also expected that some manufacturers will see a sharper decline than others, with Samsung being a noticeable example.
Samsung is the world’s biggest smartphone manufacturer with a 23.3% market share. However, it’s predicted that the Korean company will see its market share shrink to 20.3% by Q2 2020.
The full analysis from TrendForce can be read HERE.
KitGuru says: Are you or any of your friends thinking about buying a new smartphone? When do you think that the smartphone market will start to recover?