Report shows smartphone users plan to cut budgetby by 20% when buying new machines

A third of smartphone users will have a 20% budget reduction when they buy their next smartphone, according to a new report. The report comes from Counterpoint Research, a well-known analytics firm. According to their findings, the main reason for the decrease in spending was the ongoing coronavirus pandemic. At present, various industries and economies have been hit hard, during which time consumer spending has also fallen sharply.

Report shows smartphone users plan to cut budgetby by 20% when buying new machines

Overall, this translates into negative trends for the smartphone industry and its full-year 2020 sales figures. The study, conducted in the United States, the United Kingdom, India, France, Germany, Spain and Italy, found some interesting content. Most people in countries such as India, Spain and Italy are planning to wait to buy a new phone. On the other hand, in places like the United States, some people plan to delay buying smartphones.

Report shows smartphone users plan to cut budgetby by 20% when buying new machines

“The outbreak of the coronavirus and uncertainty about future revenue shaves on consumer behavior, with many people strictly limiting their purchases to essentials,” said Pavel Naiya, a senior analyst. Smartphone consumers in Spain and Italy are the most affected, with future smartphone purchases being cut by 20 per cent or more, with Spain (27 per cent) and Italy (25 per cent) the highest, followed by the Us (24 per cent), a trend we expect to continue into mid-2021. “

Do you plan to buy a mobile phone in the near future? If so, is the budget affected?