The downswing in smartphone industry had already started before lockdowns in countries like India and with retail stores now shut, online channels selling essential items like groceries and consumers in no mood for device replacement, the slowdown will be deep and last longer than in China, a new report said on Friday.
The smartphone production in India is set to decrease by nearly 30 per cent for the month of March amid lockdown as smartphone manufacturing units are now shut nationwide.
The governments of emerging economies are not strong enough to support their populations or corporations during lengthy shutdowns. And worse, capital is fleeing to safe havens, which has meant the US dollar, almost exclusively.
