Cell phone market should only recover in 2022, says report

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Consulting firm IDC has released a new report on the global cellphone market for the second half of 2020 and the years ahead. The short-term prospects are not optimistic, but the document brings a positive outlook for the sector.

According to the document, the smartphone market will fully recover from the effects of the new coronavirus pandemic only in 2022. In 2020, the sector is forecast to fall by 9.5% over the previous year, with 1, 2 billion units sent for sale.

Sales will gradually grow in the coming months, preventing an even more radical decline. For 2021, the growth should be 9%, returning the sector to its original position. Therefore, only in 2022 will a really significant increase be registered.

5G

Another IDC forecast concerns 5G. The new generation of mobile connectivity, which is gradually implemented in some regions, will be present in more and more cell phones in the coming years.

More specifically, in 2023 the market will already be formed in 50% by models with 5G – with China being the main responsible for commanding this evolution. The popularization of technology will also lead to devices with an ever lower selling price. The objective is to reach the standard of devices sold at an average of US $ 495, or R $ 2,600 in direct currency conversion, in three years.

The full IDC report is available on the consultant’s website in English.

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Cell phone production has record drop, but signals recovery

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