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SHANGHAI- A sharp 14% drop in smartphone sales was monitored last February as the novel coronavirus continues to reach larger scale, according to Counterpoint Research on Thursday. Such may be the start of other market declines as the virus spreads across the globe.
The fast-paced coronavirus contagion urged Apple Inc (AAPL.O) and other mobile phone providers to close their China-based stores in February. This greatly affected the company as figures showed that Apple’s sales fell under 500,000 unit mark in the Mainland China.
With previous sales decline of 38% recorded in China, the country is slowly recuperating from market losses as many stores began reoperation mid-March. Though this is the case, smartphone providers are facing supply chain disturbances as more countries implement lockdowns and travel restrictions.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
On Friday, Axios Media Inc. reported a document acquired by tech watchdog group Tech Transparency Project which indicates that multiple U.S. states were investigating Apple (AAPL) due to deceptive trade practices. According to the report, ...
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