The coronavirus pandemic has hugely impacted the global smartphone market. Meanwhile, the easing stay-at-home restrictions across the world and the new smartphone launches have helped the market to quickly recover. According to the latest IDC report, the economic impact of the COVID-19 has resulted in increased sales of low to mid-range smartphones.
Compared to 2019, the overall smartphone market will see a decline of 7.9-percent in 2020. This is because consumers are now more inclined towards purchasing budget smartphones instead of high-end smartphones. In the second quarter of 2020, the low to mid-range segment (priced between $100 and $400) has captured 60 percent of the global market share.
Mid-range smartphones to dominate 2020 sales
By next year, the market share of these smartphones will reach 63-percent. When combined with smartphones priced under $100, the budget category’s market share crosses the 70 percent mark. The change in purchasing patterns is clearly