Early Asia tech results signal steady recovery after COVID-19 hit

Early quarterly report cards show that smartphone sales in China are rising again as COVID-19 cases there decline and global demand for chips used in work-from-home networks is surging, positioning Asian tech firms for a slow but steady recovery.

COVID-19 recoveryJosh Horwitz and Heekyong Yang for Reuters:

Samsung Electronics guided on Tuesday to a better-than-expected first-quarter profit, as data centres stacked up on memory chips to deal with a rise in virtual meetings.

And Apple Inc supplier Foxconn reported on Monday a drop in March-quarter sales that was slightly smaller than it had first estimated.

As well, news that the number of new COVID-19 cases were receding in Europe and starting to plateau in some parts of the United States – big markets for Asian tech companies – fuelled gains in Asian shares on Tuesday…

Smartphone sales in China are also expected to edge up in the coming months as stores have reopened, and companies are hopeful of strong demand for 5G-enabled phones… Foxconn, which said last month it expected to resume normal production in China by the end of March, warned it does not expect to see any revenue growth in the first half of this year. But the company, formally known as Hon Hai Precision Industry, told investors last week it can still get the latest 5G-enabled iPhones ready for an autumn launch.

MacDailyNews Take: It certainly feels like we’re beginning to think about turning the corner and looking forward to the COVID-19 recovery as we’re seeing positive, promising signs in this battle!

11 Comments

  1. You must all be in a “stay at home because of global pandemic of virus from place that shall not be named” mood. So much negativity with those stars!

  2. hey there is no rush. we are all in the same boat. test everyone, wear mask, keep you germs to yourself. money means nothing when you a dead.

    it’s like a guy has a gun, he has 15 bullets in his gun, there are 40 people unarmed that want to beat him up. his back is against the wall. he is going to get beat up, that’s a fact. the question is who are the first fifteen to get shot.

    money is worthless unless you crave it. the rich want us to crave it. that is what gives them power. you will do as they say to get some of it. so which of us 300+ is going to take that bullet. hey, you may live. you may not infect your family. so step right up. listen to that crazy American President, that has a financial interest in you taking the drug he talks about all the time. or, maybe, you want to see him take it, his wife, oh sorry, he doesn’t care about wife, to him they are a dime dozen, kids, grandkids. he should lead by example.

  3. “listen to that crazy American President, that has a financial interest in you taking the drug he talks about all the time.”

    Does he have a financial interest in Chloroquine? I have no idea. Would a drug be more effective if he didn’t have a financial interest in it?

    When you are short of breath and faced with a visit with a ventilator, which drug(s) would YOU like from your doctor?

    A) only drugs that were not endorsed by Trump
    B) the drugs recommended by your doctor
    C) you prefer ineffective drugs
    D) only drugs that were endorsed by Trump

    1. well how about I take the one, from the guy who lies all the time. wait not so last.

      he certainly knows best. but more importantly I have nothing to loose, neither does he.

      so, he will take it first… let me add one condition, so that he and I will be in the same theoretical boat. first, he gets infected. then he waits like the rest of use 72 hours to a week before does anything about it. now, he nor I ‘have nothing to los’e, right? he takes the drug then if he is getting better, I take the drug. now that is fair. but, look, if it does not work for him, I’m not going to take it, I think I would try something else. in the name of science at that point. see I would have nothing to lose.

      https://flip.it/n_YTDU

      https://www.yahoo.com/news/synthetic-antibodies-might-offer-a-quick-coronavirus-treatment-132122036.html

      1. Well, I’m assuming you live in the United States. If so, fortunately you have the freedom to “take the one from the guy who lies all the time.” Although, I have to ask why you would choose a medicine suggested by a “guy who lies all the time”?

        By the way, scientists have just discovered that approximately 38% of infected patients listed “financial interests” as their main reason for wanting the pandemic to pass quickly so that the “stay at home” recommendations would be lifted. They go on to suggest that financial interests may be a good motivator. Unless drug companies (and their thousands of employees) would like to do their research for free… and give their product away for free. No financial interest. That might work!

  4. “he certainly knows best. but more importantly I have nothing to loose, neither does he.”

    Does he know best? Who said that?

    He has nothing to lose? Sure he does. If Trump doesn’t get this right, he might lose his job and / or his life. I’m sure those minor issues are in the back of his mind as he “lies all the time”.

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