With many companies publishing their results during the second quarter of 2020, Counterpoint Research couldn’t be out of the part. According to the market research company. The European market of smartphones saw a significant decline of 24% from the same period last year in Q2 2020. Moreover, the report reveals a 22% quarter-on-quarter decline in the same period. Of course, it’s easy to understand, since COVID-19 is still here and there affecting our lives. It certainly affected the demand for smartphones in several ways. According to the report, Eastern Europe had shown somewhat an immunity to the pandemic. However, in the second quarter of 2020, we could see a decline of 24% YoY.
According to Peter Richardson, VP of Counterpoint Research:
“THE IMPACT OF COVID-19 GATHERED SPEED IN EUROPE DURING APRIL AS IT WAS THE FIRST FULL MONTH OF LOCKDOWNS ACROSS ALMOST THE ENTIRE REGION, CAUSING A DECLINE OF AROUND 45% YOY AND 30% MOM. AS THE LOCKDOWNS STARTED TO LIFT ACROSS EUROPE IN MAY, THE SALES REBOUNDED (+33% MOM). JUNE WAS EQUALLY GOOD, POSTING A FURTHER SEQUENTIAL INCREASE OF 34%. THOUGH MOM COMPARISONS LOOK GOOD, THE OVERALL SCENARIO FOR THE QUARTER STILL SHOWS A 24% YOY DECLINE.”
The lockdown measures imposed by some countries in Europe managed to flatten the curve of COVID-19. However, at the same time, it slowed the smartphone market growth. It could be even worse if it weren’t the e-commerce channels open to keep the smartphone market from flourishing. Even markets that faced an intense lockdown like Italy and Spain managed to sell smartphones thanks to the online retailers. With the easing of the lockdown, restrictions over offline businesses were lifted. This quickly increased the number of smartphones sold in the region.
Also Follow us on Facbook, Twitter, Instagram For Give Away!