Overview:
In 2020, China, Vietnam, India, and Indonesia accounted for over 90% of the global handset production. We expect this trend to continue for at least two years due to smartphone production, which requires many parts.
However, COVID-19 has continued to impact smartphone production hubs after 2020; major OEMs seek to diversify production locations. Also, production is moving away from China for complex reasons such as increasing labor costs, market accessibility considerations in other growing countries, and the US-China trade dispute. Therefore, we see rapid production share changes among some countries. While China is steadily declining, India, Vietnam, and Indonesia are steadily rising. Many OEMs are also setting up production facilities in countries like Turkey and Brazil to cater to the Africa and LATAM markets.
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Jul 2, 2020