June 6, 2022
According to Counterpoint Research, total smartphone shipments are estimated to hit 1.36 billion units this year, down 3% from 1.39 billion in 2021.
Regarding the report, China’s zero-Covid-19 policies have slowed the country’s economy, resulting in a global chain reaction due to the country’s closed industries and growing shipping costs.
According to the Counterpoint report, China’s zero-tolerance approach to a resurgence of Covid-19 infections, which imposed lockdowns on cities and even entire regions, has slowed economic activity and caused “a chain reaction across the global economy due to the country’s closed factories and rising logistics costs.” On the mainland, large smartphone assembly plants, such as those run by Apple contract manufacturer Foxconn Technology Group, can be found.
A research released in April; China’s smartphone industry had its worst quarter since the Covid-19 outbreak initially swept the country two years ago, blaming dismal consumer confidence amid economic challenges and persistent coronavirus-related disruptions. In China, first-quarter smartphone shipments totaled 74.2 million units, down 14% from a year ago.
Source: South China Morning Post
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
