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Q2 digital demand was sluggish, mobile phone shipments and LCO supply decreased
China's mobile phone shipments were 22.97 million units in May, a year-on-year decrease of 32%. Mobile phone shipments are expected to fall 23% year-on-year to 22 million units in June.
SHANGHAI, Jun 22 (SMM) — China's mobile phone shipments were 22.97 million units in May, a year-on-year decrease of 32%. Mobile phone shipments are expected to fall 23% year-on-year to 22 million units in June.
Demand in India declined due to the Covid-19 pandemic. Chip shortage severely hit mobile phone shipments of Huawei. The overall 3C consumer demand was sluggish, and mobile phone production and shipments declined.
Delays in downstream procurement amid weaker demand forced LCO plants to lower production schedules.
LCO output stood at 7,220 mt in May, down 2% month-on-month, but up 26% year-on-year. Output in June is expected at 7,020 mt, down 3% MoM but up 12% year-on-year.
Cobalt
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