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The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
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This smartphone maker’s sales dropped the most due to COVID-19

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Jonathan Vanian
Jonathan Vanian
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By
Jonathan Vanian
Jonathan Vanian
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August 25, 2020, 4:28 PM ET
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Smartphone sales have plummeted during the COVID-19 pandemic, with Samsung seeing the biggest drop.

Second quarter smartphone sales dropped 20% worldwide versus the same period a year earlier, according to research published Tuesday by analyst firm Gartner.

Gartner cited the pandemic as the primary culprit, due to shelter-in-place rules that resulted in people spending less on mobile devices. 

“Travel restrictions, retail closures and more prudent spending on nonessential products during the pandemic led to the second consecutive quarterly decline in smartphone sales this year,” Gartner senior research director Anshul Gupta said in a statement.

Although Samsung sold the most smartphones out of any company in the second quarter, the company also experienced the biggest year-over-year decline. Samsung sold nearly 55 million smartphones during the period, a 27% year-over-year drop. 

“Demand for its flagship S Series smartphones did little to revive its smartphone sales globally,” Gupta said.

Chinese tech giant Huawei was the second leading smartphone company in the latest quarter, selling 54 million smartphones, a nearly 7% year-over-year decline from the previous year.

Coming in at third was Apple, which sold about 38 million iPhones in the latest quarter, which was relatively flat year-over-year.

Gartner noted that Apple had a better quarter than other smartphone vendors because of an improving market in China, where the iPhone-maker sells a significant number devices.

The smartphone market also dropped 20% year-over-year during the first quarter, underscoring the coronavirus pandemic’s prolonged financial hit.

Here’s the full list for the second quarter:

About the Author
By Jonathan Vanian
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Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

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