Mobile Phone Accessories Industry to combat against Covid-19 with New Launches

The deadly effects of novel coronavirus have vividly affected the industries and routine of folks, and the mobile phone and accessories industry is no exception. Sales and trading in businesses are still suffering through the havoc inflicted by this epidemic. Initialized with stringent regulations, lockdowns, and social distancing, various nations have now imposed certain relaxations, in order to maintain economic productivity. However, people are instructed to elude social gatherings and traveling to avoid further spread of the disease.

Impacts of lockdown on the mobile phone accessories market:

Lockdown has majorly impacted the economy all across the world. Except for essential products manufacturing operations, all other industries were ordered to halt their maneuvers. Bringing even the strongest countries on their knees, the pandemic has caused innumerable damages to not only the economy but employment.

The world’s most powerful economies including the United States have suffered through a massive number of job losses due to the Covid-19 pandemic. The US government conveyed more catastrophic economic consequences from the coronavirus crisis. Likewise, the U.S mobile phone and accessories industry has been amongst the majorly affected ones. Here are some of the facts that affected the productivity of the industry:

• Curtailed manufacturing procedures and sales:

The shutdown of the production chain in order to maintain social distancing has led the U.S mobile phone accessories industry to suffer through economic tussles. On the other hand, sales even via e-commerce have been impacted.

• Supply chain management:

Supply chain management plays a vital role in every industry. However, the regulation was also imposed on the process of the supply chain, and imports and exports from containment zones were strictly prohibited.

However, survival is important and industries are seeking ways to meet their revenues. And, therefore, the industry has followed certain ways to deal with the impacts. Also, market players are initiating to assist employees in other sectors.

Key market players are assisting employees in other sectors:

Other than manufacturing, the companies have managed the other working teams by adopting the remote working system. Work from home has assisted the industry and employees to be stabilized amid the crisis. However, the key market players are also trying to aid other customers. Recently, Samsung has functioned to help the frontline healthcare workers in local hospitals across New York and New Jersey by supplying Samsung products and technology.

New launches are paving the way for a new dawn:

The relaxation in regulations has eased supply chain management. The key market players in the industry are coming up with new launches. Recently, Sony, a multinational company, has launched its WI-SP510 wireless sports EXTRA BASS™ headphones. The company has specialized the earphones for use while working from home.

The US population is progressively connected to digital information with mounting adoption and usage of mobile phones. US has been amid the most affected countries, which immensely impacted the U.S industries. However, the US mobile phone accessories market is anticipated to grow significantly with the eased regulations for supply chain management. According to a report published by Allied Market Research, the US mobile accessories market would grow at a CAGR of 13.6% from 2019 to 2026. The rise in the adoption of remote working would aid the market to grow worthwhile, in the coming years.

Related Post