TF International Securities analyst Ming-Chi Kuo has cut his iPhone shipment forecast for 1Q20 by 10% due to the coronavirus outbreak. That brings expected shipment volumes down to 36-40 million units for the quarter.
There have been concerns that production of Apple's next generation iPhones could be affected by the virus. In particular, supply of the low cost 'iPhone 9' or 'iPhone SE 2' rumored to launch in March could be constrained. Although Foxconn says it has "measures in place to ensure that we can continue to meet all global manufacturing obligations."
Kuo notes that smartphone shipments in China declined by 50-60% year over year in the Chinese New Year holiday period, perhaps due to a decline in consumer confidence following the outbreak.
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