The Smartphone Market Took a Major COVID-19 Hit in Q1

Evan Niu, CFA, The Motley Fool
The Smartphone Market Took a Major COVID-19 Hit in Q1

The coronavirus outbreak wrecked broad swaths of the global economy in the first quarter as governments pursued extreme measures to combat the spread of the disease. With tens of millions of people around the world losing their jobs, buying a new smartphone simply isn't a priority, particularly compared to essential items.