Ming-Chi Kuo, a well-known analyst at TF International Securities, lowered his forecast for Apple iPhone smartphone sales by 10% to 36-40 million units in the first quarter of 2020, noting that the outbreak of coronavirus in Wuhan will affect demand for the iPhone in China.
In his research note, which was reviewed by MacRumors, Kuo noted that smartphone sales in the Chinese market fell by 50-60 percent during the Chinese New Year celebration compared to the same period last year, probably due to a decrease in consumer confidence in the country as a result of an outbreak of coronavirus.
Recall that Apple announced the closure of all of its corporate offices, shops and contact centers in mainland China due to the outbreak of coronavirus until at least February 9th.