The global smartphone market is forecast to perform better-than-expected in 2020, with shipment projections raised from an earlier 15.6% year-on-year decline, now to a 11% year-on-year dip.
According to Strategy Analytics, global smartphone shipments are set to hit 1.26 billion units in 2020 – down 11% versus the previous year.
The news comes as global economies continue to wrestle the economic and supply chain impact of the coronavirus pandemic, impairing both manufacturing and end-user demand.
Strategy Analytics has improved its shipment forecast for 2020 following a lower than expected hit on smartphone sales in the first half of the year.
“All major OEMs will see a tough market and ship less smartphones this year,” states Linda Sui, Strategy Analytics researcher.
The news comes as Apple prepares to unveil its 2020 iPhone suite in coming weeks, which supply chain vendors state will release later than historically scheduled.
Samsung Electronics is expected to remain the largest smartphone seller in 2020, snaring a 21% global market share with 265 million handsets shipped this year.
Apple is forecast to ship around 192 million units in 2020, notching a 15.3% market share.
Despite strained international relations, Huawei is expected to notch third place with 15.1% market share and 190 million units this year. The company has reportedly slashed its new Mate 40 component orders by 40%.
Strategy Analytics warns Huawei’s position could significantly slip next year after it runs out of chip inventories. The company has been blocked from liaising with many US component markets, with Qualcomm lobbying the Trump administration for the opportunity to sell to the Chinese giant.
Analysts expected foldable smartphones and 5G technology to prompt a rebound in the smartphone market in coming periods.
