Apple's 5G iPhone Delay Could Be a Blessing in Disguise

Store closures and supply chain disruptions on account of the COVID-19 pandemic have sent the global smartphone market into a tailspin this year. Worldwide smartphone shipments were down 11.7% year over year in the first quarter of 2020 to 275.8 million units, according to IDC, as key markets such as China, the U.S., and Western Europe came into the grip of the disease. The industry should have been ideally taking advantage of the shift to 5G smartphones in 2020, but that might not be the case anymore as the economic fallout of the novel coronavirus pandemic could delay upgrades and hurt demand.