International (Channel TT): Apple warned investors about the production and sales shortcomings of their products in China and said it will hit their expected revenue.
The tech giant said their expected revenue for the current quarter is 67 billion dollars and they are no longer expecting to meet the goal as they are experiencing a slower return in the sale than normal condition.
Most of the stores located in China are either closed or open for a few hours. If this situation continues the sales will go lower than expected.
Apple’s manufacturers outside Hubei province reopened after a short delay but still, they are not producing as expected, said the company.
Analysts have estimated that the sale of the smartphone might go down by 50% in the first quarter in China. Many big companies closed their offices and factories in a sudden response to the epidemic. Though most of them reopen the situation is not helpful for business yet.
Apple is the first big company to say that Corona might hit their finances.