Once lockdown ends, smartphone brands may flood market with devices: Analysts
By MYBRANDBOOK
According to analysts, smartphone brands, grappling with plunging sales, are likely to flood the market with new devices, aggressive pricing and channel incentives, in the hope of capitalizing on likely pent up demand after the Covid-19 induced restrictions wind down.
Neil Shah, Research Director, Counterpoint Research comments, “When the markets reopen, all the major OEMs will rush to address the latency in demand by heavily incentivizing both offline and online channels. If the COVID-19 situation gets normal by the end of April, we should expect brands to resume product launches and devise pricing and marketing strategies to push sales.”
Almost all major phone brands have suspended launch of their latest offerings including Oppo Enco M31, Vivo V19, Realme Narzo and Xiaomi Mi 10 while keeping stocks on hold.
However, there is no denying the fact that organic growth will be difficult and consumers will only buy a phone out of necessity or maybe settle for a refurbished one depending on their spending ability.
Earlier it had been reported that market research agencies have slashed their 2020 smartphone sale forecasts to show a first ever decline of 3-4% on year, from an expected 6-8% rise. For 2020, while Counterpoint Research predicts a 3% on year fall in shipments, Canalys expects a 4.2% decline, as consumers focus on non-essential purchases and conserve cash.
Whereas, CyberMedia Research (CMR) believes online has the potential to pick-up in terms of sales during mid-to-late second quarter and beyond.
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
LENOVO GROUP LTD.
QUICK HEAL TECHNOLOGIES PVT. Ltd.
TEJAS NETWORKS INDIA PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
Technology Icons Of India 2023: Sachin Bansal
Sachin Bansal’s fintech startup, Navi Technologies, simplifies loan ...
Technology Icons Of India 2023: Ritesh Agarwal
Ritesh Agarwal Founder & CEO of OYO Hotels & Homes-World’s fastest g...
Technology Icons Of India 2023: Sunil Vachani
Sunil Vachani is the founder and chairman of India-listed Dixon Techno...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...