The Coronavirus has become a pandemic, thus affecting the tech industry around the globe. Some industries are on lockdown while some are working under tight conditions. For example, Apple stores in Chine are lockdown while Uber is banning from entering into their cars in certain countries. Some technology industries have told their workers to work from home.
Ways the coronavirus is affecting the industry
Bitcoin returns amid the chaos
As the pandemic rises, so does the value of Bitcoin. The report shows that Bitcoin is again having its moment. With an increase in price which is nearly 10% in the last few days. Bitcoin has also gained more than 30% of its value since the end of 2019. This increase has been Bitcoin’s best start since 2012. CEO of digital token company Digix, Shaun Djie, discusses the increases in Bitcoin and attributes it to a global climate of “ongoing economic uncertainties.”
Apple China goes on lockdown
Apple has temporarily shut down its 42 retail stores in China. This temporal shut down is due to the Coronavirus outbreak. Apple relies on China for its total worldwide sale which is about 15% of its total production sale. Due to the outbreak, stores around the country have been shut down. Apple has decided to manage the lockdown and to ensure the stores are fully operational.
“The coronavirus impacts as shown to be, at worst, 3% of iPhone units produced from March to June,” says Director of equity research at Wedbush Security, Daniel Ives.
If the lockdown continues till April ending, Apple will have to improvise another means to engage the global market and consumer demand.
Uber suspends passenger
Uber has decided to shut down operations due to the Coronavirus outbreak. In Mexico, Uber suspends 240 accounts due to contact by drivers exposed to the virus. Some users have decided to quit their accounts due to the pandemic. Uber is also taking extra precautions to decrease the spread of the virus.
Effect of the virus on other Tech Companies
Coronavirus has delivered several effects around the world, but since the cases are less in Africa tech companies operate at limited space. For instance, Apple’s iPad Pro tablets are seeing limited availability in stores. This product is sold out in stores when they arrive, but replacing this product with new stocks seems to be difficult due to low production. Apple is set to launch a new product and also improve its features. But are unable to do so due to the pandemic, this could be the reason why there are supply shortages around the world.
Online stores also show the unavailability of the Oculus rift S VR and Oculus Quest VR headset device. Facebook releases a report on how the devices are sold out in a certain region with less production available to deliver new stocks.
“Like other firms, we’re expecting some extra impact on our hardware production due to the Coronavirus,” Facebook said in a statement. “We’re taking precautions to ensure the safety of our manufacturing partners, employees, and customers. And we are monitoring the situation closely.”