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How refurbished phones crashed smartphone production in Q1

Latest statistics on global smartphone production volume by TrendForce Group has shown that manufacturing slowed for the first quarter of 2019 (1Q19) to 307 million units, showing a 10% year-on-year (YOY) drop.
According to the group, there has been a decline in the price of components; TrendForce says smartphone makers have set modest production targets due to the lower-than-expected sales in the previous quarter.
Whereas the TrendForce’s quarterly prediction appears to mirror its earlier estimates that the overall outlook in the global smartphone market will remain weak in 2019, statistics of prevalence of refurbished phones in key markets across developing and developed economies show surging presence.
Checks in Nigerian leading smartphones markets reveal that the prevalence of refurbished smartphones in line with their cheapness and near equivalent service deliveries, have overshadowed the high costs of new smart phones.
Otherwise, most Nigerians who wish to buy or change their smartphones go for refurbished phones because of their prices and even service delivery.
Report released by TrendForce said “The latest first-quarter production figures from the major smartphone makers indicate the top six brands by production volume for 1Q19, in order, will be Samsung, Huawei, Apple, Xiaomi, OPPO and Vivo.”
TrendForce further averred that Samsung, which is still the market leader, began adjusting its product strategy in the second half of 2018 to challenge the Chinese brands head-on in the market segment for economically priced but high-spec devices.
The report added that “Its total production volume for 1Q19 is forecast to increase by nearly 10% YOY to 46 million units. Besides having extensive product lines and establishing a strong presence in overseas markets, Huawei has also succeeded in wresting market share away from iPhone in the high-end segment in China with its P and Mate series.”