Wearables shrug off Covid-19 but smartphones don’t
Global wearables shipments fell 39% q/q in Q1/20 but were still up 46% y/y, highlighting the strength in this rapidly expanding battery segment. The key segments within wearables continue to be wristbands and earwear/hearables where new product launches and generally strong fundamentals were more than enough to offset weakness from the smart and basic watch segments. The move to working from home brought unexpected demand for audio wearables as people sought ways to reduce background noise while staying connected to their smartphones. Smartphone demand, however, didn’t manage to shrug off Covid-19 with Q1 global smartphone shipments cratering 26% q/q to...