NEW DELHI/MUMBAI: Top smartphone makers in India have started to feel the pinch of the extended lockdown of component factories in China, with the likes of market leader Xiaomi expecting component prices to rise as supplies have started getting hit. Retailers say the stocks of Apple iPhone 11 and 11 Pro models, which are imported, are running out as the impact of the deadly coronavirus starts to hit home in the world’s second largest smartphone market. Industry players fear that local production of handsets may come to a complete halt starting next week in the absence of supplies from China. Analysts expect smartphone sales to fall 10-15% in the January-March quarter, but expect a sharper impact in the April-June period, and four to five week delays in new launches. “The extended shutdown in China is likely to have an impact on our supply chain and, there is a risk of impact on the overall quantum of component supplies,” a spokesperson for Xiaomi, India’s top smartphone maker, told ET. “While we are working to explore alternative supply channels for components and raw materials, the immediate impact is that the short supply might cause some negative pressure on the prices of these… Read full this story
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