Smartphones in Greece is expected to post steep declines in volume and current value sales for 2020 as a whole. This is primarily because the economic devastation wrought by COVID-19 has weakened consumer confidence and made Greeks much more cautious in their spending habits.
Most Greeks now consider smartphones to be essential tools for daily life, as they use them for multiple other functions beyond communication, particularly entertainment and work tasks. Accordingly, while consumers may be purchasing these devices less frequently, when they do upgrade they increasingly choose more technologically advanced models with larger displays.
Samsung looks set to record a modest volume share gain to strengthen its leading position in smartphones in 2020. Thanks to its reputable brand image and a wide portfolio that spans multiple price points, Samsung should weather the economic consequences of COVID-19 better than many competitors.
Demand for smartphones is expected to rebound in 2021 as economic conditions improve, though volume and current value sales will continue declining due to maturity, longer replacement cycles and enduring financial hardship among Greeks. The declining trend in volume sales is likely to persist over the remainder of the forecast period for the same reasons.
With most Greeks now favouring smartphones, feature phones will continue to see volume and current value sales decline at double-digit rates over the forecast period. However, the category will not disappear completely, as these devices are still used by many elderly consumers.
With maturity and longer replacement cycles restricting volume growth potential and consumers increasingly favouring more technologically advanced devices, competitive pressures in smartphones will intensify over the forecast period. These trends have already led a number of players to reorient their strategic focus to higher-end and premium products, most notably Samsung, and more are likely to follow suit.
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This report originates from Passport, our Mobile Phones research and analysis database.
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