The coronavirus pandemic, and the worldwide lockdowns that ensued as a result, threw the world for a loop. Due to the fact that it began in China, the manufacturing capital of the world, the Tech industry was looking at serious potential consequences. All of the major tech companies worldwide were bracing for slowdowns of multiple months. Many were warning that new tech releases would get pushed clear into 2021. So, did corona disrupt the tech industry as expected? Did it cause more waves, or less? There is some nuance, but the answer is generally decided:
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Not Really
When it comes to whether or not the disruption was anything close to expected, the answer is no. Tech experts were guessing months-long delays, hefty price hikes to make up for inventory shortages, and many other issues that didn’t quite come to fruition. While there were some small delays, prices and inventory were pretty stable. Not only that, but big releases seem to be more or less on schedule. This is great news for both tech companies and their consumers, as these development cycles are planned far ahead. Getting one release out on time usually hinges on the 2 or 3 releases preceding it, so major delays in 2020 could mean a pretty permanent delay on releases over the next few years.
Why Not?
Well, simply put, China got things moving sooner than expected. Politics aside, a fact about China’s response was that production started back up much faster than anybody could’ve guessed. This prevented major ripples in supply chains of the countless tech companies that rely on raw materials and parts from Chinese manufacturers. On the other hand, inventory still struggled for a bit. With everyone stuck at home, we saw many home electronics flying off the shelves in the US. Everything from game consoles, VR headsets, and TVs were seeing decent bumps in sales, with more specialized products completely selling out. One might think these inventory shortages would cause price hikes, but they may have saved us from them. This is because stores didn’t need to mark things up to make up for a drop in sales they didn’t even end up experiencing!
What Does This Mean?
Well, not much really. It means things in the tech world will be a lot closer to normal than we would have thought. So, if you were looking forward to any big releases, keep updated on their tentative dates, but they shouldn’t be far off the mark. One of the few silver linings we have at the end of all thjis is that tech keeps moving forward. So, do whatever you can to use this to your advantage. Keep yourself educated and equipped to get back in the workforce when you can, or to enhance your income you have now. Hope this helps, enjoy!
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