- Apple Inc has donated over $7 million to China to help the country deal with the coronavirus outbreak
- It has also reopened all of its 42 stores in the country
- China is a vital part of Apple's business as most of it's supply chain is located in the country
Apple Inc has increased its aid to China to over $7 million and reopened all of its 42 stores in the country.
According to Tim Cook, Apple’s Chief Executive Officer, Apple has fulfilled its promise of a donation of masks to health professionals in the United States of America and Europe.
He added that the masks were sourced from the company’s supply networks to help fight the virus which has led to over 850,000 infections and 42,000 deaths globally.
Aside from a pledge of a donation by Chinese billionaire and co-founder of Alibaba, Jack Ma, other tech giants in the country have come in to support, Reuters.com reports.
Chinese media reports say they include Baidu (BIDU.O), Tencent (0700.HK), Huawei and ByteDance.
Cook further indicated that Apple has already donated 20 million Yuan of its promised amount through Beijing-based China Foundation for Poverty Alleviation to support six hospitals in Hubei, including the makeshift Leishenshan hospital in Wuhan.
Together with 2 other companies, it pledged to donate almost 10 million facemasks to help fight the spread of the virus.
Meanwhile, the first three months of 2020 were the period of the worst losses suffered by stock markets since 1987.
Information available suggests that it was also the period in which there were massive sell-offs due to the outbreak of the coronavirus.
The Dow Jones Industrial Average and London's FTSE 100 plunged 23% and 25% respectively, recording their biggest quarterly drops since 1987.
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