The corporation's net income will fall by more than 8% in the fourth quarter of this year. The reason was a sharp illness of covid in the PRC.
Apple's net income in the fourth quarter of 2022 will decline by more than 8%. For the first time in three years, Apple's revenues will not grow, the Financial Times wrote.
Now 90% of iPhone devices are assembled in China. China accounts for one-fifth of the company's revenue. Due to restrictions during the covid pandemic and a sharp rise in the incidence of disease after their abolition, the corporation faced a shortage of five to 15 million iPhones.
In addition, there were difficulties with the sale of finished devices. In Beijing, the Apple store had to reduce working hours because all employees were sick. There is a shortage of employees on the production lines.
It is noted that January and February will be key months in terms of stability of supply of products amid the epidemiological situation in China.
Earlier it was reported that in China, a sharp spike in the incidence of coronavirus has led to the fact that infected hundreds of millions of people. Analysts and businessmen fear that China will face an economic downturn. Beijing, Guangzhou, Shanghai and Chongqing are the most affected areas.