COVID-19 Spurs IDC Downgrading 2020 5G, IT Spending Forecast
Global IT spending will decline 2.7% this year as COVID-19 “forces many organizations" to "respond with contingency planning and spending cuts,” said IDC Thursday. It was forecasting a 4.3% increase in February. IT spending will fall “despite increased demand and…
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usage for some technologies and services by individual companies and consumers," said IDC. “Major spending declines this year are now expected in PCs, tablets, mobile phones, and peripherals, with overall devices spending expected to decline by 8.8%.” Computers previously were expected to decline, it said: “The crisis will significantly disrupt a smartphone market that was projected to post stronger returns this year.”