The coronavirus crisis it has changed the lives of millions of people around the world. In just a few weeks, countries like Spain and Italy have stopped almost entirelyThousands of businesses are closed and will most likely stay that way for many more days than we would like.
The current situation has affected trade at the global level, and therefore also to the smartphone market. A study by Counterpoint reflects a sharp drop during the months of January and FebruaryBut the worst was yet to come. What can we expect in the coming months?
A hard fall that could go further
As the study reflects, during this month of February sales have fallen by 13.9% compared to the same month last year. According to those responsible for Counterpoint, we are talking about numbers that are not as bad as they could have been expected. The market would be resisting but new and hard falls would come in the coming weeks.
Sales in physical stores in China fell more than 50% during the month of February. However, online sales grew, so the overall decline fell to 38%. Many users no longer travel to large stores to buy a smartphone, and this may be one of the safe conducts on the market.
There is another factor that we must take into account, as Peter Richardson, one of the heads of the study, points out. The crisis may have affected consumers, many of them may have postponed any purchase, but smartphones are an essential product in our daily lives. Sales will not be lost entirely, many of them will simply come later.
The global smartphone market is very much a replacement market, which means that smartphones are a discretionary purchase. However, they are now seen as a vital part of daily life, especially for those who suffer long periods of isolation or remote work. So while people may delay shopping due to the coronavirus pandemic, especially in the early part of the crisis when disruption and uncertainty are high, they will still replace their smartphone at some point. This means that sales will not be lost entirely, they will only be delayed.
If we look at the sales ranking we find no major changes. Samsung was the company that sold the most, with 22% of the market share. It is followed by Apple and Huawei, with 14% and 13% respectively. Behind them, Xiaomi, OPPO, Vivo and realme, which has shown impressive growth in recent months.
It may interest you: 3 good reasons to bet on a mid-range instead of a high-end
As we have pointed out, and taking into account the data from the study, everything indicates that we will find more falls for the next few months. The coronavirus will be a before and after in our lives and many markets may suffer almost irreparable blows. Hopefully, as predicted from Counterpoint, these numbers will recover in the future.