At present the country is undergoing through a complete lockdown to contain the spread of deadly coronavirus. This is not only affected the entire sector of our life especially the smartphone industry in India.
As per the research, it could take a USD 2 billion hit due the novel coronavirus as shipments waned significantly in the months of March and April compared to the previous year. The first quarter of the year had seen smartphone makers struggle on account of component supply being disrupted in China following the coronavirus outbreak.
As per the information, the effect of the pandemic on India was relatively mild until mid-March, Counterpoint Research said the outbreak is spreading pan-India and the country has been put under a lockdown. This is expected to result in a decline of 3 per cent in smartphone shipment in 2020 to 153 million units compared to 158 million units last year, it said.
Counterpoint Research Associate Director Tarun Pathak said that if the lockdown extends, the loss will be higher and could affect “the entire supply chain and the channels in terms of revenue, payments as well.” Moreover, consumer demand is also expected to get an adverse impact as people focus on saving and therefore, limit discretionary purchases for some time.