Demand for new smartphones is in free-fall and this chart shows that the bottom is not yet in sight | WHAT REALLY HAPPENED


Demand for new smartphones is in free-fall and this chart shows that the bottom is not yet in sight

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.

Put another way, Credit Suisse thinks smartphone production levels will drop to their lowest level since 2013 in the first three months of 2019.

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