Q1-2020 just ended and the continuously spreading coronavirus has turned the world upside down in the first three month of 2020. Many companies across the world have reported their measures in response the impacts brought by the epidemic:
Hella are in the final quarter of their fiscal 2019-20, but still decided to amend their business guidance. They anticipate demand declines in the global automotive industry which will lead to a drop in vehicle lighting, which will directly affect Hella’s business. Magna decided to pull back their business outlook for 2020, and Infineon withdrew their FY2020 outlook as well, with the expectation that ibusiness will be affected by the decline in the end markets.
Osram expect not to achieve their original business guidance for fiscal 2020; over half their sales come from the automotive market. Cree announces preliminary 3Q-2020 results and revised their business outlook. And Signify suspended their financial outlook for FY2020, increased prices three per cent, asked employees to take a 20 per cent pay cut.