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