On March 11, 2020, the World Health Organization (WHO) declared the coronavirus outbreak to be pandemic. As of March 13, 2020, 118,000 people are infected with this virus and 4291 people have lost their lives in 114 countries.
Due to the outbreak, countries like China, India, Italy, and the United States have asked certain manufacturing plants to shut down completely. Certainly, the production of electronic equipment has also reduced to a large extent.
Furthermore, due to the fear of catching the virus, customers have delayed their purchases by not stepping outside of homes. Ordering online also means inviting a foreign person and an object in your home, which can also bring in the Convid-19 virus.
As a result, tech companies like Microsoft, Nvidia, and Apple have complained of lower sales. Everyone including the big tech will have to take a massive hit as far as revenue is concerned.
What Is Novel Coronavirus (Covid-19)?
According to a report by the World Health Organization (WHO), the Novel Coronavirus (Covid-19) is a strain of Coronaviruses (CoV). This strain has never been identified in humans and hence pharmaceutical companies do not have vaccines or medicine yet.
Primarily, it is a zoonotic disease. Meaning, a disease capable of transmitting itself from an animal to humans and vice-versa.
Some reports suggest that Coronavirus has origins in a meat market in Wuhan, China. This particular meat market sold meats of exotic animals like raccoons, tiger, elephants, reptiles, and much more.
Exotic meat being popularly consumed by the affluent society of China, the virus got transmitted from an animal to a person and hence is spreading worldwide. Rest and flu medication is the only solution to combat with Convid-19.
More Reports on the Outbreak Having a Financial Impact on the Tech Companies
IPC, the trade association of electronic equipment and supplies has performed a survey to determine the impact of coronavirus on electronics manufacturers. The report suggests that many manufacturing plants and factories in China have been temporarily shut down.
Workers are asked to stay home. Although some computer-based work can be carried out from home, there is no way to manage the production tasks.
The IPC also concluded that 84 percent of electronics manufacturers are deeply concerned about the impacts the Convid-19 virus will have on their businesses. Furthermore, most electronics manufacturers have alarmed distributors to expect a delay in shipment by 4-5 weeks. Although, no one can say for sure whether work will resume in the near future or not.