The Deadly Coronavirus is not just affecting people’s health but it’s impacting the health of businesses all over the world. In fact, Apple says the outbreak is hurting businesses more than they even expected.
This is because it is limiting how many iPhones it can make and sell in China, which is where most of Apple’s manufacturing happens and of course has been hardest hit by the outbreak.
Apple has temporarily closed all of its stores in China. But even though they are slowly reopening, getting back to the level they were before will take some time.
Apple said that “while our iPhone manufacturing partner sites are located outside the Hubei province – and while all of these facilities have reopened – they are ramping up more slowly than we had anticipated.
“All of our stores in China and many of our partner stores have been closed,” it added. “Additionally, stores that are open have been operating at reduced hours and with very low customer traffic. We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can.”
The company reached out to its investors, “These iPhone supply shortages will temporarily affect revenues worldwide.”
Apple warned that it no longer expects to meet the revenue guidance it provided last month for the upcoming March Quarter.
