Worldwide smartphone sales drop 14% in February due to COVID-19 contagion

26.03.2020 - Korneychuk Evgeniya
Worldwide smartphone sales drop 14% in February due to COVID-19 contagion

SHANGHAI- A sharp 14% drop in smartphone sales was monitored last February as the novel coronavirus continues to reach larger scale, according to Counterpoint Research on Thursday. Such may be the start of other market declines as the virus spreads across the globe. 

The fast-paced coronavirus contagion urged Apple Inc (AAPL.O) and other mobile phone providers to close their China-based stores in February.  This greatly affected the company as figures showed that Apple’s sales fell under 500,000 unit mark in the Mainland China.

With previous sales decline of 38% recorded in China, the country is slowly recuperating from market losses as many stores began reoperation mid-March. Though this is the case, smartphone providers are facing supply chain disturbances as more countries implement lockdowns and travel restrictions.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?