- November 13, 2020
According to IDC, global smartphone shipments were 353.6mn units in 3Q, slightly down 1.3% YoY but rebounded strongly by 27.0% sequentially from last quarter, ahead of our expectation. The strength mainly came from the recovery of India market, where shipment reached all-time records of 54.3mn in 3Q, up 16.5% YoY/198% QoQ, driven by online push and offline stores re-open. However, China saw a substantial decline in 3Q20 mainly due to the absence of new iPhone 12 and Huawei’s shipment constraints. Overall, the market has gradually bottomed out. Given the recent upbeat news on vaccine development, surging order for new iPhone 12, and new 5G model launches by other vendors, we expect the global smartphone shipment will continue to recover in 4Q and reach around 1.3bn units (down 5.3% YoY) in the full year of 2020.
