A new DigiTimes report says the global smartphone market will not likely recover from the impact felt by the global COVID-19 pandemic in 2020.
Global smartphone shipments are expected to contract by 15% on year to 1.15 billion units in 2020, as major brands including Samsung Electronics, Huawei and Apple all have slashed their shipment targets for the year in the wake of coronavirus pandemic, according to the latest estimate of Digitimes Research.
Apple announced in February that its financial guidance for the March quarter would fall short, due to the global health crisis. The company cited lowered demand in China, as well as constrained iPhone supplies worldwide as reasons for the drop in expectations.
Apple had said it expected to see revenue of $63 to $67 billion in the March quarter, but the company will fall short of that target.
Apple iPhone assembly partner Foxconn has also cut its 2020 revenue outlook following the production shutdowns at its Chinese plants.
DigiTimes claims that Apple has slashed its iPhone 11 orders fro the second and third quarters due to the impact of the pandemic.