Apple and the coronavirus: factory closed, the release of the new iPhone delayed
Now replacing severely damaged iPhones with new ones will take up to four weeks, while usually it took a few days.
Foxconn is in a very bad position. Despite the fight against the coronavirus, our sources at the company say that the management of the company is in a difficult position. Despite huge orders from Apple, it is not yet certain that deliveries will resume as planned. Do not forget that the company has a huge number of employees and already bears huge losses.
Recall that in recent days, there has been an increasing panic in world markets due to news of the spread of coronavirus outside China. This led to a drop in the price of oil. For the first time since 2017, it fell below $ 50 per barrel. Global stock markets experienced the worst week since the financial crisis in 2008: losses reached $ 5 trillion, according to Reuters.
Stock indexes in the United States sank 12% in six days — the largest collapse in nine years and the fastest on record, a rate of decline markets have not seen since the great depression of 1928. Bank of America forecasts that 2020 will be the worst year for the global economy since the last global crisis.