The coronavirus outbreak is wreaking havoc around the world where it has infected thousands, and also killed quite a number of people. However, it also has huge implications for businesses. As a result of the virus, airline companies, travel agencies, hotels, and more are losing money.
Even electronics companies like Apple are feeling the pinch. A recent report from the South China Morning Post says that Apple’s iPhone sales in China have slumped dramatically by more than 50%. According to the figures, Apple only managed to ship close to 500,000 units in February 2020.
This is less than half of what the company shipped back in January 2019 where it was at an estimated 1.27 million units. The slump could be due to the coronavirus outbreak which has forced many businesses to halt operations temporarily, including companies that are part of Apple’s supply chain.
Apple had even closed its stores in China for two weeks in February, which affected sales of its products. This could continue to get worse as there are reports claiming that Apple’s iPhone SE 2 and its 5G iPhone 12 could be delayed as a result. Time will tell, but this virus is hurting many businesses. Hopefully, they can recover and then prosper.