The recent outbreak of COVID-19 has hit the masses with such a massive force that has shocked the economy of not only China, but the rest of the global village has also been greatly affected by it. The coronavirus that was first diagnosed in Wuhan, China, has not only stopped there, but is spreading fast as there have been many cases reported of people who have been affected by this epidemic and have caused a global state of panic.
Not only the Chinese economy, but many major international companies that have hundreds of their brand’s franchises throughout China has also suffered major aftershocks due to this outbreak. Apple is one of the known companies that are the most affected tech company due to the outbreak.
Other companies including Starbucks, McDonald’s has also suffered major losses along with many other major tech companies including Samsung, Tesla, Microsoft and Google with Apple being the top most affected tech company due to the outbreak. People are being restricted to travel non-essentials and travel permits are only provided for business purposes to stop the further spread of the disease and to restrict the number of people being affected.
There has been a countrywide temporary cessation of activity of all corporate offices, factories, and retail stores since the outbreak and are expected to reopen from March 1st, 2020. Additional health protocols are also being instated along with the reopening all across China. Employees are being advised to work from home due to the outbreak and are trying very hard to stay afloat during these hard times that have befallen majorly on China.
Apple and Coronavirus
Apple is one of the most affected tech company due to the outbreak and has suffered major losses in its overall revenue due to its reduced number of sales along with around reduced percentage of manufacturing of its products as the main manufacturing factories in which Apple’s products and parts where being produced are in China and have been closed.
Factory workers are unable to resume their jobs due to the epidemic as workers outside the city are being quarantined there but the workers living in the same city are being provided with the facility of living inside the factory for timely assembly and production along with health safety and spread of virus.
The manufacturing companies are closed by the Chinese government from reopening and resuming its work to its full strength until further notice and have caused a shortage of products across the world as a major bulk of apple products were being assembled there.
Other companies are also taking precautions and have stopped taking massive orders for product manufacturing due to the limited number of workers available and majorly due to health safety issues.
Apple Stores In China
Apple has taken a massive hit on its number of sales after the coronavirus outbreak due to its couple of thousands of stores in mainland China that have closed after the recent outbreak making Apple is one of the major affected tech companies due to the outbreak.
Apple has not yet given an exact number to the shock that the company suffered, but it has been estimated to be around 20% as China is one of the world’s biggest markets for electronic devices. Recently, around 2000 Apple devices that were shipped to the United States were also screened before and after the transport to reduce the risk of transfer of the disease.
Despite the fact that many markets and companies are being reopened in China, it will take quite some time for working to get back to its normal pace. The country has suffered a major hit on its economy and is expected to be back to normal around the second quarter of the year.
By concluding, it can be said the not only Apple is the most affected tech company due to the outbreak in China but there are also many other companies that are suffering from this fatal outbreak.