- Apr 12, 2001
The global smartphone market is unlikely to recover from the impact of the global health crisis in the second quarter of 2020, according to DigiTimes.
Apple in mid-February announced that its financial guidance for the March quarter would fall short due to the global health crisis. During its January earnings call, Apple said it expected to see revenue of $63 to $67 billion in the March quarter, but that is no longer a goal the company will be able to meet.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 cited lower customer demand in China and constrained ??iPhone?? supplies worldwide as the factors leading to lower than expected revenue.
Apple's primary iPhone assembler Foxconn has also slashed its 2020 revenue outlook after strict quarantines were implemented at its main base in China.
Today's DigiTimes report claims that Apple has cut its iPhone 11 orders for the second and third quarters of the year owing to the impact of the crisis.
Most of the factories in China that supply devices and components to Apple are back to churning out products, but Apple suppliers are said to be worried about how much demand there will be for the current iPhone models and the new iPhones expected in the fall.
Article Link: DigiTimes: Global Smartphone Market Facing 15% Decline in 2020