The global smartphone market is expected to decline by 5% in shipment due to the current COVID-19 situation. Component shortages, factory shutdowns, quarantine mandates, logistics, and travel restrictions will create hindrances for smartphone vendors to product handsets and roll out new devices.
The strict movement restriction measures significantly impacted countries such as China, which sees a drop of nearly 20% in new handset sales.
Apple has announced a shutdown of its retail stores worldwide to curb the spread of COVID-19, thought their online store is still in operation. However, brands that are reliance on offline sales channels are more affected than others, such as OPPO and Vivo.
So how do all these actions affect the buy-back price of used phones?