Fitch rating agency analysis seeing a weaker economy:
- Weaker demand hits Asian smartphone vendors and component suppliers
- We now expect shipments within China to fall at a rate in mid-teens in 2022
- Says global smartphone shipments are set to decline at high single-digit rates in 2022
- Influence of chip shortages in holding back smartphone shipments has eased since 2Q22 as supplies have improved
Good news on the easing of chip shortage problems though.
