Apple prepares for Coronavirus fallout, Samsung fears it may affect earnings

Reuters Seoul, Seoul-t'ukpyolsi, Korea (South) Jan 30, 2020, 05.06 PM(IST)

Apple prepares from for virus fallout. Photograph:( Reuters )

Story highlights

Samsung SDI Co Ltd said its first-quarter earnings could be negatively affected by the coronavirus, Apple Inc. closes its retail stores in China to protect its employees.

South Korean battery maker Samsung SDI Co Ltd said on Thursday its first-quarter earnings could be negatively affected by a virus outbreak in China.

The total number of confirmed deaths from the virus in China had risen by 38 to 170 as of Wednesday, and the number of infected patients had risen to over 7,700.

Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics Co Ltd, counts Volvo and Volkswagen among its customers.

Samsung
[ A customer stands near Samsung logo during Galaxy Note 8 consumer launch event (Courtesy: Reuters) ]

Also ReadApple's iPhone sales in China up 18 per cent in December: Report

Meanwhile,  Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Companies also asked the staff there to work from home.

Apple closed one of its retail stores in China, reduced hours at others and prevented employees from travelling.