If the lockdown extends, the loss will be higher and could affect the entire supply chain and the channels in terms of revenue, payments as well
Current Affairs : Cell phone industry in India could take a $2 billion hit by virtue of the coronavirus pandemic as shipments declined altogether in the long stretches of March and April contrasted with the earlier year, as indicated by Counterpoint Research.
Taking note of that the impact of the pandemic on India was generally gentle until mid-March, Counterpoint Research said the episode is spreading skillet India and the nation has been put under a lockdown.
This is relied upon to bring about a decay of 3 percent in cell phone shipment in 2020 to 153 million units contrasted with 158 million units a year ago, it said.
“We are evaluating a year-on-year decrease of 27 percent in March shipments, and right around 60 percent for April expecting lockdown will be until April 14. This converts into an income loss of about $2 billion for the business till the lockdown time frame,” Counterpoint Research Associate Director Tarun Pathak told PTI.
Pathak further said that if the lockdown expands, the misfortune will be higher and could influence “the whole store network and the directs as far as income, installments too.”
Besides, shopper request is additionally expected to get an antagonistic effect as individuals center around sparing and accordingly, limit optional buys for quite a while, he noted.
The main quarter of the year had seen cell phone producers battle by virtue of segment supply being upset in China following the coronavirus episode. The episode, whose focal point was in Wuhan, in China, has spread over the world and asserted a great many lives.
Aditi Mehta 