People wearing face masks following the coronavirus disease (COVID-19) outbreak are seen at an Apple store as the new iPhone SE goes on sale, in Hangzhou, Zhejiang province, China April 24, 2020. China Daily via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.
(Reuters) – 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.
The COVID-19 pandemic has not only disrupted business supply chains, with major smartphone makers such as Apple Inc and Samsung Electronics Co Ltd 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 bit.ly/3036tkj Sangeetika Srivastava, senior research analyst…
Source Reuters Tech News
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