The sales of the newly announced Galaxy S20 has been affected. The new series of smartphones is reportedly performing worse than the predecessor Galaxy S10, The Korea Herald reports on Friday.
According to the reports, on the first day of the Korean availability, sales for the current generation were down 50% compared to last year.
70,800 Galaxy S20 units were sold on first day, compared to 140,000 units of the Galaxy S10, and 220,000 units of the Galaxy Note 10, on day one, reports claimed.
The main reason of the sales decline is the fear of coronavirus. Sales were affected by sharp declines in discounts for new phones and the number of visitors to offline stores due to coronavirus infection fears.
At this time, it might be difficult to point one reason or the other. Whether it’s the lack of subsidies and discounts, or fear of coronavirus, is unknown. One thing is for certain: both the mentioned reasons have economic backgrounds. Economies worldwide are taking a serious hit due to the outbreaks of coronavirus.
According to the reports, the Dow Jones Industrial Average plummeted more than 900 points on Friday, because of the uncertainty over the spread of the novel coronavirus.
Coronaviruses are a large family of viruses that cause illness ranging from the common cold to more severe, even death. Coronavirus are zoonotic, meaning they are transmitted between animals and people.
The worldwide death toll from the novel coronavirus has risen to 2,859.