The market of connected things is taking at least a short-term hit due to COVID-19.
Global smartphone shipments dropped 38% annually in the month of February, according to a new forecast by Strategy Analytics.
Shipments dropped from 99 million units in February 2019 to 62 million units this past February.
“Smartphone demand collapsed in Asia last month, due to the COVID-19 outbreak, and this dragged down shipments across the world,” stated Linda Sui, director at Strategy Analytics. “Some Asian factories were unable to manufacture smartphones, while many consumers were unable or unwilling to visit retail stores and buy new devices.”
This is the biggest fall in the history of the worldwide smartphone market, according to the research firm.
The coronavirus also is taking its toll on the wearables market, at least from a growth perspective.
That market is now projected to grow 9% this year, reaching 368 million devices shipped, according to the International Data Corporation (IDC).
This follows global shipments of wearable devices growing 89% in 2019.
Although the first half of this year will see slower shipments, they still are projected to reach 527 million units by the end of 2014, growing 9% a year until then.
Watches and wristbands are expected to decline 13% during the first quarter, as factories in China struggle to catch up.
The market may rebound once COVID-19 subsides, but that specific time point is still unknown.