Apple Says iPhone Production, Sales Are Down Due To Coronavirus
The company said it won't meet the revenue guidance it released last month because of the ongoing coronavirus outbreak.
Apple told its investors Monday the coronavirus outbreak is taking a toll on iPhone production and sales. The company said it won't meet the revenue guidance it sent out last month.
It said its iPhone manufacturing partner sites are located outside the Hubei province — where the virus was first discovered — and are back open, but that they are ramping up slower than anticipated.
Apple also said the demand for iPhones in China is down because retail stores are either closed or "operating at reduced hours and with very low customer traffic." It said customer demand outside of China has been strong and in line with its expectations.
The death toll from the disease, known as COVID-19, is more than 1,700.
Contains footage from CNN.
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