While iPhone sales will inevitably be hit by the coronavirus outbreak, Apple is resuming smartphone production at a better rate than many of its key rivals. That’s according to a note to investors seen by AppleInsider.
Cowen analysts believe global smartphone builds for the second quarter will be down 17% year-on-year. Though it will be a 4% rise in units in terms of sequential quarters, it will allegedly still be worse than the 15% year-on-year decline seen in the first quarter. For Apple in particular, it will be seeing a decline, but not at the same level. Cowen forecasts iPhone builds in the second quarter will be 35 million units, which works out to be a 5% drop quarter-to-quarter and a year-on-year decline of 13%, while Android builds will be down 18% overall year-on-year… « With the current state of the global economy, iPhone unit supply and demand expectations could continue to fluctuate in the coming months, » writes Cowen. The firm highlights how Foxconn’s workforce has « broadly recovered from the COVID-19 shutdown by the end of March, » which helps the outlook on Apple’s figures.
Check It Out: Apple Resuming Smartphone Production Better Than Rivals
