Stock Analysis, IPO, Mutual Funds, Bonds & More

Coronavirus effect: Apple reopens China stores, closes at all locations outside the country until March 27

Cook said the firm had learned from steps taken in China.

Last Updated: Mar 14, 2020, 08.09 PM IST
All of Apple's 42 stores in China have reopened after being closed since February 1 as the epidemic rapidly spread there.
SAN FRANCISCO: Apple is closing all of its stores outside China until March 27 in a bid to slow the spread of the coronavirus outbreak, CEO Tim Cook said.

Cook said the firm had learned from steps taken in China, where the tech giant has just reopened its retail stores.

"One of those lessons is that the most effective way to minimize risk of the virus's transmission is to reduce density and maximize social distance," he said in a statement late Friday.

"As rates of new infections continue to grow in other places, we're taking additional steps to protect our team members and customers."

Apple's online store would remain open but office staff outside China would be working remotely if possible, Cook added.

Bust The Myth Bubble: Sesame Oil, Alcohol Sprays Can't Prevent Coronavirus

of 11
Play Slideshow

Rumour Has It

9 Mar, 2020
A lot of what you hear or read about the coronavirus may be myths. WHO data busts a few common misconceptions.

The California-based firm has about 500 stores in 24 countries around the world.

Despite the closures, Cook said hourly workers would continue to be paid as normal.

The CEO said Apple had expanded its leave policy "to accommodate personal or family health circumstances created by COVID-19" including caring for a sick loved one, mandatory quarantine or childcare due to school closures.

Apple has also donated $15 million to help the fight against the pandemic and will be matching employee donations two-to-one.

"The global spread of COVID-19 is affecting every one of us," Cook said.

He ended his statement thanking "the heroic first responders, doctors, nurses, researchers, public health experts and public servants" around the world fighting the pandemic.

All of Apple's 42 stores in China have reopened after being closed since February 1 as the epidemic rapidly spread there.

The shops have been gradually returning to business in the past few days and the last ones reopened on Friday as China slowly resumes work.

Mass quarantines had forced factories to suspend operations and shops to shut.

Apple, which depends on components from Chinese suppliers and has a big market in China, was hammered on both fronts.

Last month, Apple said it would miss its second quarter revenue forecast and global iPhone supplies would fall because of the epidemic.

The firm had forecast revenue of $63-$67 billion for January-March, but did not disclose how much it expected revenue to fall.

Keeping Your Phone Clean, And Safe, In The Time Of Coronavirus

of 5
Play Slideshow

​The Corona Conundrum

7 Mar, 2020
Holding hands, an affectionate gesture with romantic undertones, has become taboo in the time of the coronavirus. Handshakes, too, have been outlawed in the boardroom as well as stadiums - and after closing a deal, folks now pick up their phones and send each other formal emails.Lovers in parks sit on benches, their hands skidding across smartphone screens, sending emoji-laced messages. However, exercising one’s primary tactile organs to communicate through gestures might not be as dangerous as using a mobile phone.

Also Read

A missed beeline to sting apple output in India

Turnaround year for Apple: Analysts

From 'Sam-suck' to Apple rival: The Samsung transformation

Apple supplier Foxconn's revenue hammered by coronavirus fallout

Apple increases prices of some iPhone models

Add Your Comments
Commenting feature is disabled in your country/region.

Popular Categories

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service