Smartphone production will plummet 19% this quarter – Credit Suisse

“A couple of weeks after Apple announced that its holiday quarter earnings would be dramatically lower than expected, Credit Suisse believes this quarter may not bring much cheer either,” Ben Lovejoy reports for 9to5Mac. “The bank expects smartphone production to fall by a massive 19% this quarter.”
In a note to clients, Credit Suisse published estimates showing that global smartphone production is in free-fall, and the bank’s analysts warned that the “bottom not yet in sight.”
Credit Suisse revised down its smartphone production forecast for the final three months of 2018, predicting it will fall by 3% quarter-on-quarter to 357 million units. It said first-quarter output will fall 19% to 289 million units […]
If Credit Suisse’s forecasts prove accurate, it means that first-quarter smartphone production will have fallen for five consecutive years. “It is too early to say whether this news is already fully discounted in share prices, or will continue to have an impact,” it added. — BusinessInsider
Read more in the full article here.
MacDailyNews Take: With Apple pushing promos, discounts, and their GiveBack trade-in program, we’ll have to wait and see if iPhone sees such a large drop-off this quarter.