Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
May 10, 2021 05:28 pm GMT

(PR) Growth in Total Smartphone Production for 2021 Drops to 8.5% YoY Due to India's Second Wave of Coronavirus, Says TrendForce

TrendForce's investigations find that India has become the second largest market for smartphones since 2019. However, the recent worsening of the COVID-19 pandemic in the country has severely impaired India's domestic economy and subsequently dampened various smartphone brands' production volume and sales (sell-in) performances there. TrendForce is therefore revising the forecasted YoY growth in global smartphone production for 2021 from 9.4% down to 8.5%, with a yearly production volume of 1.36 billion units and potential for further decreases going forward.

TrendForce further indicates that the top five smartphone brands (Samsung, Apple, Xiaomi, OPPO, and Vivo) have either set up assembly plants in India or sought assistance from EMS providers with operations in the country. Hence, the share of made-in-India smartphones has been on the rise over the years, even though the majority of the domestically manufactured devices are still for meeting the demand of the home market. Judging from the current state of Indian smartphone manufacturing, TrendForce expects the second wave to reduce the country's smartphone production volume for 2Q21 and 3Q21 by a total of 12 million units, in turn resulting in a 7.5% YoY decrease in smartphone production in India for the whole year.

Original Link: https://www.techpowerup.com/282014/growth-in-total-smartphone-production-for-2021-drops-to-8-5-yoy-due-to-indias-second-wave-of-coronavirus-says-trend

Share this article:    Share on Facebook
View Full Article

TechPowerUp

Leading tech publication

More About this Source Visit TechPowerUp