The COVID-19 outbreak is ravaging the world and changing the way we live our lives. The pandemic is also affecting several businesses around the world and making a lot of people lose their jobs. One of the industry sectors that is being highly-affected by this is the smartphone market. Smartphone makers, component suppliers, and chipset makers are trying to overcome the challenges imposed by COVID-19. However, the most recent problem is the low demand in light of tepid smartphone sales. According to the latest report, Samsung is limiting its component orders by half.
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According to several reports, Samsung is now making about 10 million smartphones a month. That’s a major decrease over the 25 million smartphones that the company was previously building. The most recent report regarding the limitation in component orders comes from sources that are familiar with the matter. Apparently, the Korean firm isn’t very optimistic about the market. The effects caused by demand shortage are here to stay and that makes sense. A lot of people lost their jobs, and there’s no guarantee that they will recover it soon. Moreover, we can’t really estimate when this crisis will end. In the next months, we’ll see people prioritizing essential goodies over smartphones.
According to the report, the order cuts after Samsung’s entire smartphone portfolio. From the most low-end devices to the high-end Galaxy S20 family.
