China smartphone sales may decline 20% in Q1: Counterpoint

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Mumbai, Feb 13 | In the wake of the novel coronavirus outbreak, sales of smartphones in China may decline 20 per cent in the first quarter of this year, according to an estimate by Counterpoint Research on Thursday.

While companies like Huawei, OPPO and Vivo could suffer the most due to this decline, the impact may be limited on smartphone makers like Xiaomi, OnePlus and Realme “as they are more online-centric and overseas-focused”.

The novel coronavirus (COVID-19), which originated in China’s Wuhan area in December 2019 has impacted social and production activities in the country.

To curb the spread of the coronavirus epidemic, the Chinese government issued a strict travel ban on January 24 following which retail and commerce activities slowed sharply, Counterpoint said.

“Demand-wise, we see the market getting impacted severely. We estimate more than a 50 per cent YoY (year-onyear) decline in offline smartphone sales during the lock-down period. Therefore, we have lowered our sales forecast 20 per cent for Q1,” Brady Wang, Associate Director at Counterpoint Research, said in a statment.

“The situation may worsen and we may lower our forecast even more depending on the February sales. The plummet in Q1 is likely to generate a surge in channel inventories and further influence shipments and new products launches through Q2,” Wang said.

The coronavirus outbreak has led to the death of over 1,300 people in China.

“Huawei group is likely to suffer as China has accounted for over 60 per cent of its total smartphones sales. OPPO and Vivo will also be impacted because of their greater reliance on offline sales channels. The influence on sales of Xiaomi, OnePlus and Realme will likely be less severe as they are more online-centric and overseas-focused,” Flora Tang, Research Analyst at Counterpoint Research, said.

As Apple announced a shutdown of its offline stores across China until February 15, the company could face a sales loss of about one million units of iPhones.

“Apple’s new product development plans will also be affected as engineers from the USA and Taiwan cannot travel to China. The iPhone SE2 set for a late March launch is likely to have troubles in ramping up volume due to the insufficient labour force in Foxconn’s Zhengzhou factory,” Mengmeng Zhang, Research Analyst at Counterpoint Research, added.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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