📚 Global Smartphone Shipments To Fall 12% this Year on Virus Woes

Global smartphone shipments will fall nearly 12% to 1.2 billion units in 2020, market research firm IDC said on Wednesday, citing lower consumer spending due to the economic impact of the coronavirus crisis. From a report: The COVID-19 pandemic has not only disrupted business supply chains, with major smartphone makers such as Apple and Samsung Electronics flagging financial hits, but also squeezed consumer spending worldwide. "Nationwide lockdowns and rising unemployment have reduced consumer confidence and reprioritized spending towards essential goods, directly impacting the uptake of smartphones in the short term," said Sangeetika Srivastava, senior research analyst with IDC.

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