Russia-Ukraine war will hurt global smartphone market, report says
The Hindu
It also expects the global smartphone average wholesale price to continue rising amid supply constraints, higher inflation rate and logistics costs.
The Russia-Ukraine war will hurt global smartphone market in 2022 and 2023, according to a report by market intelligence firm Strategy Analytics.
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The firm also noted that “supply chain will be massively disrupted.”
The report estimates, under its best-case scenario, that global smartphone shipments will grow only 1% in 2022 compared with last year.
The war could dampen consumer spending in Russia, Ukraine and other related markets, the firm said.
It also expects the global smartphone average wholesale price to continue rising amid supply constraints, higher inflation rate and logistics costs.
Central Eastern Europe will take a bad hit, followed by Western Europe. All vendors including the major players in Russia and Ukraine are facing big headwinds, amid the devastating war, the firm noted.
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