World Market Still Suffering Due To the Corona Virus Breakdown

Chastity Messenger

I am Chastity Messenger and I give “Import Tourism” an insight into the most recent news hitting the “Consumer Goods” sector in Wall Street.

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

Address: 4437 Yorkshire Circle, Greenville, NC 27834, USA
Phone: (+1) 252-274-1912
Email: chastitymessenger@importtourism.com
Chastity Messenger

The corona virus break down has led to slow down of the Chinese Market as the production is being paused to avoid the spreading of the virus. Chinese Electronics and smart phones suppliers expect the drop of 20-30% of production in March due to the shutdown of factories that produce its components as the corona virus scare lingers. This would affect the sales in the month of April-June quarter as there is a loss in production and supply of materials from the Chinese market.

Business Head at Godrej Appliances and President of consumer electronics industry association CEAMA, Mr.  Kamal Nandi says that this breakdown will affect the entire supply chain adversely. The March production will have to suffer because of this and the April June revenue will take a setback as the goods are available as much as needed.

The senior executives of the Chinese component supplier companies updated on Monday that there would be a delay of next 7 to 10 days in the production and supply of goods.

The virus is proving itself to be deadly by taking more than 1000 lives and affecting more than 40,000 people. The Chinese factories who had set Monday as their day of reopen after the extended Chinese new year holiday, postponed the opening day and extended their holidays up to 17th February as several cities are still under lockdown.

Those who opened factories on Monday have scarce staff and are facing scarcity of raw materials supply as travel within the country is restricted. The Chinese government is taking all the measures to fight against the virus.

Many countries import a large amount of electronic goods and components from China. India too imports 85% of smart phone components from China and other electronics like oven, refrigerator will suffer drop of production by around 30-40% especially in the fasted selling models as said by Avneet Singh Marwah, CEO of Super Plastronics.

Chastity Messenger

Chastity Messenger

I am Chastity Messenger and I give “Import Tourism” an insight into the most recent news hitting the “Consumer Goods” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 4437 Yorkshire Circle, Greenville, NC 27834, USA Phone: (+1) 252-274-1912 Email: chastitymessenger@importtourism.com