SOTGY - Smartphone Parts: Sharp Recovery And Expectations For 2H20
Major issues and conclusions
According to CAICT, China’s smartphone shipments displayed a V-shaped recovery in April, growing 92% MoM and 14% YoY to 41.73mn units.
Helped by the rebound of smartphone shipments, Taiwan-based suppliers reported modest earnings in April. PC component suppliers also reported modest results on soaring demand caused by COVID-19.
The portion of 5G-enabled devices in China’s mobile device shipments continues to grow, and this has been reflected in the 1Q20 results of Qualcomm (QCOM) and MediaTek (MDTKF) as well as 5G smartphone shipment forecasts.
Industry and stock outlook
As smartphone shipments are