Reliable Apple analyst from TF Securities, Ming-Chi Kuo claims that the Wuhan Coronavirus outbreak is affecting iPhone supply in China; Coronavirus could have a negative impact on Apple’s shipping forecasts for the first quarter of the year.
According to Kuo’s survey, Apple sent around 360 to 380 million iPhone units to China in 2019, which might fall to 310-330 million units in 2020, which is apparently 10 per cent lower than before.
Kuo’s latest survey shows that smartphone shipments in China have declined by 50-60 per cent year-over-year during the Chinese New Year holiday period, which has resulted in a very high channel inventory.
Kuo reported that this decline is probably due to declining consumer confidence in the country stemming from the coronavirus outbreak.
Apple has temporarily closed down all its Apple Stores, contact centres and corporate offices in until February 9 at the earliest to protect workers and consumers, closed down might extend according to the situation.