SHANGHAI, Jan 4 (SMM) – The gradual saturation of the mobile phone market and slower upgrades to new models are set to weigh on demand for lithium cobalt oxide (LCO) batteries, SMM believes.
US stocks fell sharply on Thursday January 3, following an unexpected quarterly-report from Apple.
The iPhone maker identified several factors for the lowered guidance, including a weakening economy in China and lower-than-expected iPhone revenue. Apple said that the lower-than-anticipated revenue occurred mostly in "Greater China" but also said that upgrades to new iPhone models in other countries were "not as strong as we thought they would be".
LCO battery demand from the global consumer electronics markets stood at 32.6GWh in 2018, but is estimated to fall 2% to 31.92GWh in 2019, SMM expects.
It is likely to rebound 2.6% to 32.76GWh in 2020 amid the growth of other electronic devices.