Coronavirus threatens $11bn in Asian tech profits: Goldman

Foxconn, Samsung and Murata at risk from China exposure

Workers assemble electronics at Foxconn's plant in Shenzhen. The Taiwanese company's reliance on mainland Chinese production leaves it exposed to virus-related worker shortages. © Getty Images

DAISUKE MARUYAMA and KENSAKU IHARA, Nikkei staff writers

March 8, 2020 01:31 JST

TOKYO/TAIPEI -- Asian chipmakers and other high-tech manufacturers face a nearly $11 billion hit to profits -- a 7% drop -- in fiscal 2020 as the novel coronavirus outbreak saps both demand and their supply chains in China, according to research by Goldman Sachs.

Foxconn, the world largest iPhone assembler, stands to suffer one of the biggest blows, followed by South Korea's Samsung Electronics, Taiwan Semiconductor Manufacturing Co. and other East Asian names.