Market research firm Counterpoint Research, today, dropped its growth forecasts for the industry.
The company, which had earlier predicted 9% annual growth for the global smartphone market, revised its forecast to 6%. It said the industry will ship a total of 1.41 billion units instead of 1.45 billion during 2021.
“Some smartphone makers are now saying they are only receiving 70% of their requests, creating multiple problems. Counterpoint Research believes 90% of the industry is affected and this will impact the second half forecast for 2021,” the market research firm said.