As China and the world continue to battle the scourge of the ongoing Covid-19 (coronavirus) outbreak, iPhone producers have said the production and sales of the product will be 'temporarily constrained'.
The technology giant, Apple, said in avia its website on Monday that the disruption in China from the coronavirus will mean revenues falling short of forecasts.
Apple had forecast revenues of up to $67 billion in the first quarter of this year, but might fall short due to the outbreak. Due to the high transmission rate of the disease, many Chinese have remained indoors, and lots of businesses are yet to resume operations. This has been hurting the economy of China as inflation rate has become high.Apple said though work is starting to resume around the country, they are experiencing a slower return to normal conditions than was anticipated.
“The first is that worldwide iPhone supply will be temporarily constrained. These iPhone supply shortages will temporarily affect revenues worldwide.“The second is that demand for our products within China has been affected. All of our stores in China and many of our partner stores have been closed,” it stated.
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