The smartphone market is falling due to Coronavirus

The smartphone sales are falling due to Coronavirus. In February, sales fell by a drastic 38 percent back. This is the most noticeably awful droop the business has ever experienced. What’s more, it should likewise mean the end for a portion of the manufacturers.

In February 2019, around 99.2 million smartphones were sold worldwide. A year later, things look very different, there were only 61.8 million devices here. In the beginning, it only affected the Chinese market, where the coronavirus was the first to appear. But now it is a global pandemic and the numbers are now falling sharply worldwide.

Linda Sui, Director at Strategy Analytics, said, “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. Smartphone demand collapsed in Asia last month, due to the Covid-19 outbreak, and this dragged down shipments across the world. Some Asian factories were unable to manufacture smartphones, while many consumers were unable or unwilling to visit retail stores and buy new devices.”

Neil Mawston, Executive Director at Strategy Analytics, added, “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.”

Yiwen Wu, Senior Analyst at Strategy Analytics, added, “Despite tentative signs of recovery in China, we expect global smartphone shipments overall to remain weak throughout March, 2020. The coronavirus scare has spread to Europe, North America and elsewhere, and hundreds of millions of affluent consumers are in lockdown, unable or unwilling to shop for new devices. The smartphone industry will have to work harder than ever to lift sales in the coming weeks, such as online flash sales or generous discounts on bundling with hot products like smartwatches.”

Due to this, we will see the same results in March. The slump is likely to be even more dramatic than in February. And it will probably take a while for the smartphone market to report rising sales again.