Apple Warns of Worldwide iPhone Shortages Due To Coronavirus
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On Monday, Apple warned in a statement that a supply shortage of iPhone is expected worldwide because of the ongoing coronavirus outbreak.
This is expected since Apple makes iPhones and its other products mainly in China. The spread of the virus before the Chinese Lunar New Year holiday had companies and factories shut down over the last few weeks. Apple had halted production temporarily and closed its retail stores in China.
While some Apple retail stores have reopened in China with reduced hours last week, it seems that it will take some time before the company’s China-wing gets back to its feet.
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The company doesn’t expect to meet its quarterly revenue forecast, Apple says. This is due to the lower iPhone supply globally and lower Chinese demand as a result of the outbreak.
The company’s statement reads, “Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided fort he March quarter.”
Moreover, Apple stated that the supply of iPhones will “be temporarily constrained,” and influence “revenues worldwide” as a result.
Apple’s top priority remains the health of every person who works there. The company states, “The health and well-being of every person who helps make these products possible is our paramount priority, and we are working in close consultation with our suppliers and public health experts as this ramp continues.”
More updates will come when Apple announces the next earnings call in April.
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