Apple warns coronavirus in China will cut iPhone production, sales

0
Advertisement


Apple Inc. said on Monday it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting production and demand in China.

The Cupertino, Calif.-based company said that although its productions facilities in China have reopened, they are ramping up slower than expected.

The company had forecast $63 billion to $67 billion US in revenue for the quarter ending in March, ahead of estimates of $62.4 billion.

Apple said supply for its iPhones will be “temporarily constrained” as manufacturing facilities in China are still not operating at full capacity. Sales of iPhones were up for the first time in a year in the December quarter.

It also said that store disruptions have affected its sales in China, with most stores either closed or operating at reduced hours.The outbreak is expected to pile pressure on China’s economy with companies struggling to restart production after an extended New Year holiday as supply chains from the car industry to smartphones remain disrupted.

Analysts have estimated the virus may slash demand for smartphones by half in the first quarter in China, the world’s biggest market for the devices.

WATCH | What we know about the coronavirus:

Information about the coronavirus outbreak is spreading fast, but what do we actually know about the illness? CBC News medical contributor and family physician Dr. Peter Lin breaks down the facts about what it is, where it came from, how it spreads and what you can do to protect yourself. 5:10



Source link

Visit Our Youtube Chanel and Subsribe to watch public Survey : ( ଆମର ୟୁଟ୍ୟୁବ୍ ଚ୍ୟାନେଲ୍ ପରିଦର୍ଶନ କରନ୍ତୁ ଏବଂ ସର୍ବସାଧାରଣ ସର୍ଭେ ଦେଖିବା ପାଇଁ ସବସ୍କ୍ରାଇବ କରନ୍ତୁ: )

LEAVE A REPLY

Please enter your comment!
Please enter your name here