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Apple Warns Coronavirus Will Hurt iPhones Supplies

Accepted submission by martyb at 2020-02-18 00:03:16
Apple warns coronavirus will hurt iPhones supplies []:

Apple has warned that disruption in China from the coronavirus will mean revenues falling short of forecasts.

The tech giant said production and sales were affected, and that "worldwide iPhone supply will be temporarily constrained".

[...]"We do not expect to meet the revenue guidance we provided for the March quarter," the company said in a statement [], adding that it was "experiencing a slower return to normal conditions" than expected.

With most stores in China either closed or operating at reduced hours, sales of Apple products would be lower, the company said.

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."

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