Argentina -- South America's 3rd largest economy -- is in a terrible mess right now.

Covid cases have sadly topped a million. GDP is plunging -10%. Forex brokers in neighboring Uruguay last month briefly valued the Argentine Peso at zero.

That all spells trouble for Argentina's smartphone market. A collapsing Peso makes imported components and devices more expensive, while simultaneously weakening consumer spending power.

Cellphone production in Tierra del Fuego (special economic zone) halved in H1 2020. Several factories have been closing and un-closing like a yo-yo for months. Rumors suggest Brightstar, who assembles LG and Samsung handsets, desires to sellup and exit the country.

The net result is that overall mobile phone sales in Argentina will slump -11% this year, perhaps more. Sales will probably hit their lowest level since 2004. The rollout of 5G smartphones (and networks) is slow and ponderous and unlikely to gain major traction before 2021.

Some now call Argentina the "next Venezuela", due to its struggling economy, collapsing currency, and spiraling virus toll. The outlook is grim.