Potential impact of the Coronavirus outbreak on the global smartphone market
February 07, 2020
There is growing concern over the economic damage caused by the spread of the new coronavirus, which began in China in January 2020. the Lunar New Year holiday lasted from the end of January to the beginning of February. The World Health Organization (WHO) declared a "public health emergency of international concern" on January 30.
We lay out two scenarios for potential impact on the global smartphone market.
In the Q3 ’19 forecast update, IHS Markit predicted that the Chinese market would stop declining and rebound in 2020. However, due to the current situation, the Chinese market is likely to contract in units again. Global smartphone shipments are also likely to be lower than previously expected.