The global coronavirus - COVID-19 - has affected the global economy badly, hit oil prices and brought down the stock markets like never before. Airlines have grounded thousands of planes and millions of hotels have had cancelled reservations. The negative repercussions of this pandemic have made headlines all over the world.
Among all the sectors that have been significantly impacted is the ICT industry, and pertinent sectors have bared the highest costs since the cancellation of MWC 2020 and numerous other ICT and telecommunications events, forums and conferences. Many companies have suffered from exorbitant losses, and many plans, deals and RFPs have been put on hold.
And it doesn’t stop here. People are not moving and travelling like they used to, with the least number of flights registered for this time of year. The global SIM cards market is down, with less roaming revenues and less SIM cards being sold, while corporate businesses experience the same downward trend. Consequently, telecom operators are not generating income.
Vendors’ businesses have been affected as well and some factories have been shut down. Travel bans, social distancing and lockdown measures have made it impossible for vendors to install new equipment or meet telcos to discuss business. Even if video calls are placed, discussions can’t be concretized.
One of the leading vendors told us, “We are just helping telcos in maintenance in order to keep networks running smoothly, as the need for networks is crucial now more than ever before.”
All sectors, without exception, are relying on connectivity. The ICT industry is serving all sectors at a time when everything else is down. Let’s all appreciate the efforts made by the industry’s veterans.