Smartphone sales tank in China as coronavirus dampens demand - govt data

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SHANGHAI - Sales of smartphones in China tumbled by more than a third in January, government data showed on Monday, in a sign of how the coronavirus outbreak is hurting consumer demand.

China started putting curbs on travel and asking residents to avoid public places in late January, just ahead of the Lunar New Year festival, a major gift-giving holiday.

For early 2020 analysts had predicted a fall of this magnitude. Research firms IDC and Canalys forecast earlier this month that shipments would drop roughly 40 percent in the first quarter as the virus outbreak hurt demand and sparked supply chain issues. Apple meanwhile shut its branded stores across China, following similar moves by most other major retailers in the country.

 

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