Report shows that smartphone users plan to cut their budget by 20% when buying a new phone

A most recent report shows that one-third of smartphone users will decrease their budget by 20% when buying the following smartphone.

The report originates from the popular analysis organization Counterpoint Research. According to their findings, the main purpose behind the decrease in consumption is the continuing coronavirus pandemic. At present, various industries and economies have endured a gigantic effect, during this period shopper spending has additionally dropped altogether. Overall, this will translate into a negative trend in the smartphone industry and its 2020 full-year sales figures. The study was conducted in the United States, the United Kingdom, India, France, Germany, Spain, and Italy, and found some interesting content. Most people in countries such as India, Spain, and Italy are planning to wait to buy a new phone. On the other hand, in regions like the US, some people plan to postpone the purchase of smartphones.

Senior analyst Pavel Naiya said: “The outbreak of coronaviruses and the uncertainty of future income have affected consumer behavior, and many people strictly limit their purchases to necessities. Smartphone consumers in Spain and Italy are the most affected. These consumptions The plan is to cut the future smartphone purchase budget by 20% or more, Spain (27%), and Italy (25%) have the highest, followed by the United States (24%). From the current situation, we expect this trend to continue By mid-2021.”