The global pandemic that started with the outbreak of the COVID-19 virus has created a massive impact on stock markets and the financial performance of even the largest global companies and caused consumers great concern. As a result, consumers are limiting their spending, which is now affecting smartphone sales. ABI Research expects that handset sales may drop by 30% Year-on-Year (YOY) in the first half of 2020, meaning that the smartphone supply chain will likely be seriously affected. This will likely have a cascading effect in the telecoms market, where giants like Apple, Huawei, and Samsung will see revenues stagnating, at least in the first half of the year.
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