Various market research agencies have downgraded their 2020 smartphone shipment outlook as they predict a 3-4 per cent year on year (YoY) decline in shipments, owing to the Covid-19 outbreak.
While Counterpoint Research estimates a 3 per cent YoY fall in shipments, Canalys expects a 4.2 per cent decline.
As per industry analysts, the demand for smartphones, which declined by 27 per cent YoY in March 2020, will plunge further by another 60 per cent in April 2020 and stay low for around two quarters leading to a roughly $2 billion revenue loss.
On the contrary, the market research companies had earlier predicted a 6-8 per cent YoY rise in shipments.
Further, according to analysts, online marketplaces might observe a complete loss of smartphone sales as they fall under the non-essential category.