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Coronavirus threatens $11bn in Asian tech profits: Goldman

Foxconn, Samsung and Murata at risk from China exposure

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 ElectronicsTaiwan Semiconductor Manufacturing Co. and other East Asian names.

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