At the end of the second quarter of 2020 (Q2), companies started reporting their financial reports. Market research companies like Counterpoint, in turn, use this data to create statistics on industry revenues. In the case of smartphones, there was a decrease of 24%, compared to Q2 of 2019.
The reason is simple: the worldwide pandemic of COVID – 19. During the first quarter of 2020, the smartphone industry was still “getting used to” the effects of the pandemic. It was now in the second quarter that the consequences of the pandemic were felt, financially.
The entire global economy suffered from the pandemic and smartphones were no exception. Consumers lost purchasing power due to unemployment and lay-offs . In addition, quarantine measures have caused stores and shopping centers to be completely empty.
On the other hand, online sales have seen growth, however, it was not enough to make the positive spectrum. Counterpoint also informs that June was a positive month in isolation.
Europe recorded a greater decrease in sales
In Europe, the preventive quarantine measures have managed to have some success in slowing the progress of COVID – 19. One of the consequences was the decrease in smartphone sales.
As mentioned, what saved smartphone sales from an even greater drop was online sales. Even large retailers saw growth in the online sales department, as expected. Consumers had to get used to online consumption, as an alternative.
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