China to Be First Smartphone Market to Recover From Coronavirus Hit
April 10, 2020
As China recovers from the covid-19 pandemic, its smartphone market is recovering as well. More than just retail sales, this surge in their economy is good news for the rest of the world; it includes many of the essential parts needed for smartphones sold throughout the world. Much of the manufacturing of chips and other electronics happens in China, and worldwide production has slowed as a result of the country fighting its battle with coronavirus. Their technology manufacturing industry is likely to be the first of its industries to recover.
Demand for smartphones and other devices that connect people remotely are in high demand as companies have scrambled to keep their employees working remotely from home. They’re also necessary for children to keep in touch with teachers, and for friends and family members to connect with each other as social distancing reduces the number of people we can interact with on a daily basis.
China’s rebound includes reopening all 42 Apple Stores in the country that shut down during the pandemic.
News of resumed production caused technology stock to rise – especially technology tied to the memory chip market. Samsung, LG and Foxconn stock all improved with the news of the Asian country’s production recovery.
Although this news is a great indicator that retailers will be able to restock popular smartphones, tablets and accessories in the future, many are still currently experiencing a lack of product for demand. Fortunately, Issoy can help. Contact us today for an up-to-date inventory list of our wholesale electronics.