The world’s economy already started going downhill, and this will only cause a vicious circle that at the end of it all, everyone from the government down will feel the bite and the ones that will feel it most will be us, the consumers and the employees that will lose their jobs. This will cause them to try and not to waste money and buy only the bare necessities as food and medicine.
People will not buy expensive things, and the retail will suffer and the retail will not import things so the manufacturer will suffer and they start to sack their employees who in turn would not buy other things,etc.
Yes, the phone manufacturers will suffer too especially with the very high prices that they are selling their phones. We have arrived at a point where many of the Chinese manufacturers are selling their top models with the prices of the two giants iPhone and Samsung. I think that if people have to pay the same price, then the tendency would be that they would rather buy a top brand phone from either of the two giants for the same price. There was a time where Chinese mid-ranges as Xiaomi and Oppo and a lot of others were selling their mid-range phones for half the price and with top specifications, This trend seems to be dying away.
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