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

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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.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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