Shipments are forecast to drop almost 10% for 2020, but a revival is due in 2022 courtesy of a 5G push and other factors, says research firm IDC.
Global smartphone shipments will fall by 9.5% this year to 1.2 billion units as a result of economic concerns, IDC projected in a report released Thursday. Though the second quarter results were slightly better than expected, the market was still down by 17% compared with the same period last year.
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Like many sectors, the smartphone industry has been hit hard by the coronavirus pandemic and resulting lockdown. Despite the shift to remote working and self-quarantining, a lack of consumer demand amid fears of an economic slowdown have reduced smartphone shipments.
Prior to the pandemic, total smartphone sales were expected to return to growth this year, IDC said, but now that possibility is