Smartphone demand falls ‘like a rock’, 200 million fewer phones this year

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Demand for smartphones and PCs or laptops has dropped “like a rock” and the current global situation and Covid-19 lockdowns may wipe out 200 million phone units in 2022, a major Chinese chipmaker has warned.

According Manufacturing Corporation (SMIC), China, lockdowns will result in 200 million fewer smartphone units this year, reports South Morning mail.

The SMIC predicted a gloomy outlook for lawsuit, saying he sees no signs of recovery any time soon.

the could cut output by five percent this quarter.

“We are trying to make up for production losses before the end of June by using our factories outside of Shanghai, but the losses may not be made up,” SMIC co-CEO Zhao Haijun said during an earnings call Friday. the night.

“Chinese smartphone vendors could cut shipments by 200 million units this year. Many orders (from smartphone makers) have been cancelled,” he added.

“We expect a five percent production loss during the second quarter,” the company said.

SMIC is still dealing with equipment shipment delays for some of its foundries currently under construction.

US sanctions remain another challenge for the Chinese chip giant.

The Chinese mainland has reported 222 local confirmed cases of Covid-19, of which 144 were in .

it also reported 1,305 locally transmitted asymptomatic infections on Wednesday, out of a total of 1,630 newly identified Covid cases on the mainland, the Xinhua news agency reports.

–IANS

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(Only the headline and image in this report may have been modified by Business Standard staff; all other content is auto-generated from a syndicated source.)

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