Global shipments of smartphones fell in the first quarter at the fastest rate on record, illustrating the devastating impact of COVID-19 on consumption and production in a critical segment of the technology industry.
Shipments totaled about 275 million in the first three months of the year, according to market trackers Strategy Analytics and IDC, which estimate the decline from the same period in 2019 at 17 percent and 11 percent, respectively. Their numbers vary slightly because they estimate results from a range of manufacturers. Both firms attribute the shortfall largely to the novel coronavirus outbreak, which hurt the supply chain — with factories across Asia having to shutter temporarily to constrain the spread — as well as demand due to widespread lockdowns that included retail stores.
"What started as primarily a supply-side problem initially limited to China has grown into a global economic crisis, with the demand-side impact starting to show by the end of the quarter,” said Nabila Popal, research director at IDC.