First quarter sales of smartphones in China were at their lowest level since the start of the Covid-19 pandemic, with poor consumer sentiment to blame thanks to covid-related disruptions and a faltering economy, reports the South China Morning Post. China’s smartphone sales slid 14% in the first quarter of 2022 to 74.2 million units, according to a report published by Counterpoint on Thursday.
Consumer demand was already waning before the recent wave of Covid-19 infections, and combined with slowing economic growth, a decline in retail sales growth and record-high unemployment rates in big cities, the impact on the sector has been significant, said research analyst Mengmeng Zhang.
“We expect smartphone demand to continue to be underwhelming due to weak consumer sentiment and lack of new innovations to stimulate consumers,” Zhang added.
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