Chinese smartphone sales recover
Canalys reported that Chinese smartphone sales growth recovered q/q in Q2/20, reaching 90.7m units. Anecdotally global smartphone shipments also recovered q/q. Although sales were still down on a year on year basis this was a better result in this key market for batteries. Wearables data for Q2 has not been published yet, but anecdotal data for laptops suggests that demand was robust due to work-from-home needs. What is clear however is that demand for smaller consumer batteries has been much more robust than many commentators (including us) expected throughout the Covid pandemic. Whether this robustness is sustainable as we move...