Financial Aid for Online Education

You've made the decision to pursue your degree online and you've been accepted to an online program. Now what do you do? The next step in realizing your dream is to secure the funds needed for your education.

If you haven't already done so, now is the time to complete your Free Application for Federal Student Aid, or FASFA, for short. This is a straightforward application published by the Department of Education, which gives lenders an idea of ​​what sort of funding you are entitled to. The application process is fairly simple and can be completed online in minutes. Once you've filled in the necessary information, you should receive, within a matter of a few days, a confirmation letter, of which programs you are eligible for. This process is free and simple to do, and it is the cornerstone of securing financial aid for your college program.

Once you have this information, you need to contact the Financial Aid office at the college that you want to attend. There are many types of financial aid packages available, ranging from work study programs to government aid. The financial aid officer will be able to provide the necessary forms for the different lending institutions and should be able to guide you through the decision making process.

After you have completed your loan applications, they will need to be sent to the school for verification and processing. Many banks will not release the funds directly to the student, only to the college at the start of the term. This makes it easier- and safer- for both the college and the student.

Securing funds for college is a fairly easy process that needn't be stressful. The key to the whole process is being well organized and making sure that you meet all of the loan deadlines specified by both the Department of Education and your college's financial aid office.



Source by Jeff Lakie

Fintech startups raised $34B in 2019 – TechCrunch


Financial services startups raised less money in 2019 than they did in 2018 as VC firms looked to back late stage firms and focused on developing markets, a new report has revealed.

According to research firm CB Insights’ annual report published this week, fintech startups across the world raised $33.9 billion* in total last year across 1,912 deals*, down from $40.8 billion they picked up by participating in 2,049 deals the year before.

It’s a comprehensive report, which we recommend you read in full here (your email is required to access it), but below are some of the key takeaways.

  • Early stage startups struggled to attract money: Per the report, financing for startups looking to close Seed or Series A dropped to a five-year low in 2019. On the flip side, money pouring into Series B or beyond startups was at record five-year high.

    Early-stage deals dropped to a 12-quarter low as deal share globally shifts to mid- and late-stages (CB Insights)

  • Emerging and frontier markets were at the centre stage of the most of the action: South America, Africa, Australia, and Southeast Asia all topped their annual highs last year.
  • Asia outpaced Europe in the second half of last year on both number of deals and bulk of capital raised. In Q3, European startups raised $1.6 billion through 95 deals, compared to $1.8 billion amassed by Asian startups across 157 deals. In Q4, a similar story was at play: European startups participated in 100 rounds to raise $1.2 billion, compared to $2.14 billion* raised by Asian startups across 125 deals*.
  • Emergence of 24 new fintech unicorns in 2019: 8 fintech startups including Next Insurance, Bight Health, Flywire, High Radius, Ripple, and Figure attained the unicorn status in Q4 2019, and 16 others made it to the list throughout the rest of the last year.

    The fintech market globally today has 67 unicorns as of earlier this month (CB Insights)

  • Insurtech sector, or startups such as Lemonade, Hippo, Next, Wefox, Bright Health that are offering insurance services, got a major boost last year. They raised 6.2 billion last year, up from $3.2 billion in 2018.
  • Startups building solutions such as invoicing and taxing services and payroll and payments solutions for small and medium businesses also received the nod of VCs. In the U.S. alone, where more than 140 startups are operating in the space, raised $4 billion. In many more markets, such startups are beginning to emerge. In India, for instance Open and NiYo are building neo-banks for small businesses and they both raised money last year.
  • Nearly 50% of all funding to fintech startups was concentrated in 83-mega rounds (those of size $100 million or above.): According to the research firm, 2019 was a record year for such rounds across the globe, except in Europe.

    2019 saw 83 mega-rounds totaling $17.2B, a record year in every market except Europe

  • Funding of Germany-based startups reached an annual high: 65 deals in 2019 resulted in $1.79 billion raise, compared to 56 deals and raise of $757 million in 2018, and 66 deals and $622 million raise in 2017.
  • Financial startups in Southeast Asia (SEA) raised $993 million across 124 rounds in 2019 in what was their best year.

*CB Insights report includes a $666 million financing round of Paytm . It was incorrectly reported by some news outlets and the $666 million raise was part of the $1 billion round the Indian startup had revealed weeks prior. We have adjusted the data accordingly.



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HQ Trivia’s dramatic death, Android 11, Apple mulls a more open iOS – TechCrunch


Welcome back to This Week in Apps, the Extra Crunch series that recaps the latest OS news, the applications they support and the money that flows through it all.

The app industry is as hot as ever, with a record 204 billion downloads in 2019 and $120 billion in consumer spending in 2019, according to App Annie’s recently released “State of Mobile” annual report. People are now spending 3 hours and 40 minutes per day using apps, rivaling TV. Apps aren’t just a way to pass idle hours — they’re a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus.

In this Extra Crunch series, we help you keep up with the latest news from the world of apps, delivered on a weekly basis.

This week we look at the sad, strange death of HQ Trivia, spying app ToTok getting booted from Google Play (again!), Android 11, an enticing Apple rumor about opening up iOS further to third-party apps, Google Stadia updates, the App Store book Apple wants banned, apps abusing subscriptions and much more.

Headlines

HQ Trivia burns to the ground

hq trivia app 1

Once-hot HQ Trivia believed it had invented a new kind of online gaming — live trivia played through your phone. Investors threw $15 million into the company hoping that was true. But the novelty wore off, cheaters came in, prize money dwindled and copycats emerged. Then co-founder Colin Kroll passed away and things at HQ Trivia got worse, including a failed internal mutiny, firings and layoffs. This week, HQ Trivia announced its demise. It then hosted one last, insane night of gaming featuring drunken and cursing hosts who sprayed champagne, called out trolls and begged for new jobs. (Sure, because they exited this one so professionally.)



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What the E-Trade deal says about Robinhood – TechCrunch


[Editor’s note: Want to get this weekly review of news that startups can use by email? Just subscribe here.] 

How well do Robinhood’s financials stack up against incumbent online brokerages? While we wait for the seven-year-old company’s long-planned IPO, Alex Wilhelm examined Morgan Stanley’s big $13 billion purchase of E-Trade for fresh data comparison points. Robinhood has 10 million accounts — twice what E-Trade has — but it also appears to make much less money per user and has far fewer assets under management, as he covered for Extra Crunch. So while its fee-free approach has destroyed a key revenue stream for competitors, it still has to grow its own “order-flow” business into its private-market valuation.

One solution is to make the platform stickier via social features. On the same day as the E-Trade deal announcement, Robinhood launched a new Profiles feature to encourage users to share stock tips. Josh Constine explored the offering and where it is headed on TechCrunch, concluding that “Profiles and lists, and then eventually more social features, could get Robinhood’s users trading more so there’s more order flow to sell and more reason for them to buy subscriptions.”

Alex also took a look at a new report on fintech funding, which found last year was a peak overall — but skewed towards later-stage companies. Certainly, the wealth management segment is looking mature.

But the category is massive, with many more incumbents left to disrupt. What are fintech investors looking for? Check out our popular investor survey on this topic from November.

How your startup can use TikTok for growth

You know that TikTok is where the cool kids are these days, but maybe… how do I say… it is not the social media platform you know best when it comes to growth. So Geneviève Patterson and Hannah Donovan, founders of TikTok-oriented video editing app TRASH, have published a two-part guide to help you figure it out.

The first part, freely available on TechCrunch, walks you through how to increase your authority ranking in the TikTok algorithm, its review process, and pointers for making your own content. The second part, for Extra Crunch subscribers, goes deep on how TikTok decides whose content gets featured more (and less).

Fifth Wall’s Brendan Wallace: the proptech sector is hot despite WeWork

“Our mandate is any technology that can be strategic to the real estate industry,” the prolific investor told Connie Loizos in an extended interview for Extra Crunch this week. While WeWork may have depressed some investor interest, plenty of models are working great across various segments — so he and his partners are raising more funds. One of the hottest sectors, perhaps surprisingly, is in sustainable buildings. As Wallace details, public pressure, large-tenant pressure, large-investor pressure and new metro requirements have removed any choice that the industry has in the matter:

Make no mistake; we are front-and-center to what is happening in the real estate industry and the collision with technology, and this is the single-most-important thing that has happened to the real estate industry in the last five decades. The real estate industry is going to have to go carbon-neutral and that is brand-new.

Is this sector also your focus? Be sure to check out our survey of investors in construction robotics from last week to find out some of the latest opportunities, plus our overview survey of real estate and prop tech investors from November.

The future of manufacturing and warehouse robotics

Ahead of our big robotics conference at UC Berkeley in early March, we have been producing a whole series of surveys on robotics verticals. This week, our resident financial analyst Arman Tabatabai teamed up with our hardware editor turned conference organizer, Brian Heater, to do a series of interviews with VCs who are focused on warehouse and manufacturing robotics. Investors include:

Read more here.

Tell TechCrunch about gaming startups and remote work

Our media columnist Eric Peckham wants to feature your advice in two upcoming articles. If you have relevant expertise, click the links below and share your opinions.

Across the week

Do AI startups have worse economics than SaaS shops? (EC)

Elon Musk says all advanced AI development should be regulated, including at Tesla (TC)

SpaceX alumni are helping build LA’s startup ecosystem (EC)

Dear Sophie: I need the latest details on the new H-1B registration process (TC)

Tracking China’s astounding venture capital slowdown (EC)

The rise of the winged pink unicorn (TC)

Voodoo Games thrives by upending conventional product design (EC)

Ex-YC partner Daniel Gross rethinks the accelerator (TC)

How companies are working around Apple’s ban on vaping apps (EC)

Rippling starts billboard battle with Gusto (TC)

#Equitypod

This week was a fun combination of early-stage and late-stage news, with companies as young as seed stage and as old as PE-worthy joining our list of topics.

Danny and Alex were back on hand to chat once again. Just in case you missed it, they had some fun talking Tesla yesterday, and there are new Equity videos on YouTube. Enjoy!

This week the team argued about org-chart companies, debt raises, some of the items mentioned above, and much more. Details here.





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Do phones need to fold? – TechCrunch


As Samsung (re)unveiled its clamshell folding phone last week, I kept seeing the same question pop up amongst my social circles: why?

I was wondering the same thing myself, to be honest. I’m not sure even Samsung knows; they’d win me over by the end, but only somewhat. The halfway-folded, laptop-style “Flex Mode” allows you to place the phone on a table for hands-free video calling. That’s pretty neat, I guess. But… is that it?

The best answer to “why?” I’ve come up with so far isn’t a very satisfying one: Because they can (maybe). And because they sort of need to do something.

Let’s time-travel back to the early 2000s. Phones were weird, varied and no manufacturers really knew what was going to work. We had basic flip phones and Nokia’s indestructible bricks, but we also had phones that swiveled, slid and included chunky physical keyboards that seemed absolutely crucial. The Sidekick! LG Chocolate! BlackBerry Pearl! Most were pretty bad by today’s standards, but it was at least easy to tell one model from the next.

(Photo by Kim Kulish/Corbis via Getty Images)

Then came the iPhone in 2007; a rectangular glass slab defined less by physical buttons and switches and more by the software that powered it. The device itself, a silhouette. There was hesitation to this formula, initially; the first Android phones shipped with swiveling keyboards, trackballs and various sliding pads. As iPhone sales grew, everyone else’s buttons, sliders and keyboards were boiled away as designers emulated the iPhone’s form factor. The best answer, it seemed, was a simple one.

Twelve years later, everything has become the same. Phones have become… boring. When everyone is trying to build a better rectangle, the battle becomes one of hardware specs. Which one has the fastest CPU? The best camera?



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Netflix’s ‘Locke & Key’ offers spooky delights – TechCrunch


At times, it can be hard to tell exactly who “Locke & Key” was made for.

Adapted from a comic book series written by Joe Hill and illustrated by Gabriel Rodriguez, the show tells the story of the Locke family after they move into the mysterious Keyhouse, where they soon discover hidden keys that can be used for a variety of magical purposes.

With its emphasis on adolescent romance and magical powers, “Locke & Key” often feels like a young adult adaptation, but it also strays into darker territory, with plenty of horror, as well as a persuasive focus on the family’s ongoing trauma following the violent death of husband/father Rendell Locke.

Despite some quibbles, your Original Content podcast hosts agree that the show manages to balance these different elements effectively, with surprising plot twists, creepy visuals and a particularly compelling sibling relationship between the two teenaged Lockes, Tyler (played by Connor Jessup) and Kinsey (Emilia Jones).

In addition to reviewing the show, we also discuss the announcement that Netflix has acquired Adam McKay’s next film, “Don’t Look Up,” which will star Jennifer Lawrence. We had less to say about the movie itself and more about our respective attitudes towards a potential asteroid apocalypse.

You can listen in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also send us feedback directly. (Or suggest shows and movies for us to review!)

And if you want to skip ahead, here’s how the episode breaks down:

0:00 Intro
0:35 “Don’t Look Up” discussion
14:19 “Locke and Key” spoiler-free review
29:48 “Locke and Key” spoiler discussion



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Financial Fitness for the Rest of Your Summer

Summer is halfway over and the warm weather, BBQ’s, and vacations have already probably put a dent in your budget. It’s a perfect time to re-evaluate your money goals by tracking your progress so far. It’s important to stay proactive about overspending by executing smart approaches that will keep you financially fit for the duration of the summer.

Review Your Current Summer Budget

After a month into the summer season, is your budget holding steady? It’s always prudent to review your current expenses in an effort to determine where you can cut back. It’s apparent that people spend more in the summer so it’s important to implement those amplified spending areas into your budget. Assess your recurring expenses by analyzing your debit and credit card activity. If you’re paying for items or services you never use then get rid of them. This will leave you more for your end of summer fun!

Assess Your Debt

Be honest, was one of your new year’s resolutions to pay off your debt? Like most of us, did that thought quickly fade? If this is you, then it’s time you do an honest evaluation of your debt. Are you feeling a bit debt fatigued or are you on your way to reaching your debt free goal? If you swept the goal of paying off your debt under the carpet then maybe it’s time to remember why it’s important for you personally to get out of debt. What are your visions for the future? What does your life after debt look like? If that is the life you want then start increasing your payments by only $5, which can have a great overall effect without putting a crimp in your summer plans.

Cut Energy Costs

Try to cut energy costs wherever you can in the summer. First of all, grill outside more often. This will cut the number of dishes used as well as the number of dishwasher cycles. Turn off internal lights and depend on natural sunlight. If it’s to hot outside then close the blinds to keep it cool inside the house. Water plants with a watering can instead of letting the hose run and try drying clothes outside on an old-fashioned clothesline to avoid using the dryer.

Take Advantage of Summer Sales

There are a ton of sales during the summer months that can help you save. Food shopping can be especially hard on your budget. Get the most for your money by utilizing store coupons and checking your local store circulars. We recommend using Flipp, a free application that can help you gather all the store circulars in your local area. This app can help you save 20-70% every week on your grocery bill.

Grasp the Strength in Old and Discounted Gift Cards

When was the last time you cleaned out your wallet and found old gift cards? These can help you supplement your summer dining or shopping while on vacation. You may not know this but you can buy gift cards at a discount. Raise.com can help you save money in two different ways:

– You can sell your old or unwanted gift cards for cash, which can then be used, towards your summer activities.

– You can buy gift cards at a discount from over 4,000 retailers

If You’re Strapped For Cash Hustle Up Some Extra Cash

If your summer plans have busted your budget how about hustling up some extra cash. What if you rent a room out in your home on Airbnb. You can dog sit for dogs by advertising on dogvacay.com, or drive for a ride share service. So, stop complaining that you are short of cash. Be creative and use the options that are out there waiting for you.

Use Cash

It’s very convenient to swipe your card wherever you go. Research shows that using cash as your payment of choice ultimately controls the amount you will spend by 12 – 18%. Elizabeth Jenkins, a hard-money lending expert, suggests you put your cash budgets into weekly envelopes. “Have an envelope for weekly food, entertainment, gas, rent/mortgage. You’ll feel guilty if you take money from the envelopes for unrelated expenses.”

View Spending Differently

Spending money can become addictive. How about spending ‘time’ on things instead of spending money on things. Focus on activities that will expand your well being instead of purchasing and collecting material items. For example, start an exercise program; find a hobby or work on upgrading your home. In other words, put your energy into projects that may cost you some money but will be more beneficial to your home or family.

You can’t be too rigid with your money. It definitely needs to adapt to your life. Summer is half over so start mapping out the rest of the summer so you can avoid overspending and digging yourself deeper into debt.



Source by Patrick Redo

Benefit Of Having Good And Timely Financial Report

While there are numerous benefits of having accurate and timely financial reports, we have identified few key benefits of financial statements.

1. Understanding the Financial Status of Your Business

The complete financial status of your business can be presented in a quality financial statement. The three main financial statements are the balance sheet, the income statement and the cash flow statement. The balance sheet reflects the owner’s equity after the liabilities are subtracted from the assets. The income statement which is also known as the profit and loss statement shows the profit derived from income over a defined period of time. A cash flow statement is a valuable tool for showing if there is enough cash coming in to pay for the operations of the business. A cash flow can be projected out over several months. The Income Statement shows how the restaurant and hotel perform over a period of time (i.e. a week, month or year). It takes all restaurant and hotel expenses into account, from prepaid expenses to expenses paid in the future. Overall, the Income Statement tells the operator if the business is making a profit. From there, the operator can begin making changes in policy and implementing strategies that will help the restaurant achieve its goals. Should new sales programs be implemented? Does food cost in line with menu prices? Is the restaurant hitting its budgets? Can the owner(s) make distributions to the partners? These are some of the key questions that need to be addressed. The basic formula for an Income Statement is:

Sales – Cost of Goods Sold – Expenses = Profit/Loss

The Income Statement is everyone’s favorite financial statement to review because it reveals the nature of the restaurants and hotel success. Restaurant and Hotel financial statements should be broken down into the following categories:

• Sales/room revenue

• Salaries

• Employee Benefits

• Controllable

• Occupancy

• General and Administrative

• Depreciation

• Interest

• Other Income

If sales and expenses are broken down into specific categories, the operator can easily compare and analyze his or her restaurant and hotel to industry standard percentages. Timely financial reporting will help to control the cost of goods sold like beverage cost food cost

The health of a restaurant and hotel can be analyzed from the Balance Sheet at any point in time (i.e. today, last month or tomorrow). The Balance Sheet allows operators to forecast short and long-term cash flow. As important as it is to review the Balance Sheet, few restaurants ever bother to prepare it. By checking the accuracy of the Balance Sheet, an operator can ensure the accuracy of the Income Statement. The Balance Sheet lists all the assets, liabilities and equity of the restaurant. The formula for the Balance Sheet is:

Assets = Liabilities + Equity

In the simplest terms, assets are what the business owns such as equipment, inventory or cash. Liabilities are what the business owes such as vendor bills, loans, notes, and leases. Even a gift certificate is a liability because the restaurant owes someone a meal at a future date. Equity is the ownership of the business.

It is important that assets and liabilities are properly classified on the Balance Sheet. To get a clearer picture of the business, an operator should break down the Balance Sheet into subcategories. The breakdown is explained as follows:

• Current Assets: assets with the life less than a year (i.e. cash, credit card receivables, inventory and prepaid expenses).

• Fixed Assets: assets with a life greater than a year that directly attributes to producing revenue (i.e. equipment, computers, furniture and leasehold improvements).

• Other Assets: assets with a life longer than a year that is not directly involved in the production of revenue (i.e. security deposits, trademarks and artwork).

Liabilities require a similar classification and are broken down as follows:

• Current Liabilities: debts due within one year (i.e. accounts payable, accrued expenses, short-term loans and even gift certificates).

• Long-Term Liabilities: debts due that extend beyond one year (i.e. notes payable or long-term leases).

There is so much information to be gained from the Balance Sheet. For example, a restaurant and hoteliers that have large debts may have major cash flow problems. Identifying the current debts from the long-term debts on the Balance Sheet help determine the short and long-term cash needs, as well as the business potential success. Restaurateurs and hoteliers who take on large debts upon opening could be shooting themselves in the foot. The restaurant may show large profits based on the Income Statement, but the restaurant may not have money because it is paying out the outstanding debt (which is revealed in the Balance Sheet).

Most restaurants and hotels are set up as Partnerships or Sub Chapter S corporations, they have to explain all business expenses and income to all partner.

2. Sales Pattern

Financial statements reveal how much a restaurant owner and hoteliers earns per year in sales. The sales may fluctuate, but financial planners should be able to identify a pattern over years of sales figures. For example, the restaurant owner and hoteliers may have a pattern of increased sales when a new product is released. The sales may drop after a year or so of being on the market. This is beneficial, as it shows potential and sales patterns so executives know to expect a drop in sales.

3. Financial Statements Will Help Prepare A Budget And Make Financial Decisions

Timely financial reporting will help you prepare a budget and make an easy way to take the financial decisions to grow the business.

4. Improved financial management

Timely financial reporting helps you to examine and correct any weaknesses in your financial systems. Improved financial management allows you to focus on current financial matters and develop future plans.

5. Better resource management

Due to timely frame financial report the restaurant owners and hoteliers will get accurate numbers of resources, therefore, they can use optimum use of all resources.

6. PERFORMANCE EVALUATION

Under this type of accounting practice, Business Owners may assess the performance of the Employees in the financial performance of the business.



Source by Rajesh Chouhan

5 Tips to Choose the Best Financial Services Company

Investing in numerous financial instruments is regarded as a good way of generating income every year. But it is sensible to get proper guidance from financial companies prior to taking any decision in financial and investment instruments such as mutual funds, stocks or bonds. These days, you can come across lots of professional companies offering financial services. They offer feasible and expert advice to people in matters of financial planning. You can use the following tips to choose the best financial company.

Look for a strong local presence

Before you enlist the services of a specific firm, you need to ensure that it has a strong presence in the city that you live in. Make sure that it has been practicing for many years. If it has been in practice for quite a few years, you can be more or less sure that its financial advisors have enough experience and knowledge. It is also important for you to take the vision, leadership, integrity and experience of the management team into account. This will ensure that you are going for a company with a proper direction and foundation.

Check whether it is a licensed operator

You should also make sure that the agency has got license from the concerned government as well as permits from relevant regulatory authorities in the nation. Ask for recommendations from friends and known ones in the city to verify the authenticity of the company. Go through reviews in trustworthy magazines or search for information about the firm in online blogs and discussion forums. You should also go through the company portfolio and find out about its present and past clients. You may call up a few of these clients and get their feedback about the services of the firm.

Look for one that offers multiple services

A good company usually offers a multitude of services to its clients. At anytime possible, you need to look for an agency which offers a plethora of services, such as auditing and tax consultation, investment banking, expert advisory services, asset management, research and advisory services, wealth management, business banking services, mutual funds investment and more. You can get a lot of convenience and huge cost advantages by availing varied services from one agency.

Trust your gut feeling

Above all, you should trust your own instincts and gut feeling. Talk to the company representative and financial advisors working in the agency. Do they seem interested to listen to what you have to say, or seem more eager to force their services on you? A good company never forces opinions but leaves the final decision on the clients, always. It only suggests and advices you about proper investments on the basis of the knowledge and past experience of its advisors.

Go through the contract properly

While choosing a financial services company, you should not sacrifice on the guarantees at any time. Always have a detailed contract that clearly underlines and details the expectations from your end, as well as that of the company. Go through the contract properly to avoid risks of hidden expenses in future.

To know more info log on to: http://www.ashikagroup.com



Source by Sandeep Jaiswal

PC shipments expected to drop this year because of coronavirus outbreak – TechCrunch


The coronavirus outbreak could result in at least a 3.3% drop — and as high as a 9% dip — in the volume of PCs that will ship globally this year, research firm Canalys reported Thursday evening in its revised projections to clients.

PC shipments will be down between 10.1% to 20.6% in Q1 2020, the firm estimated. The impact will remain visible in Q2, when the shipments are expected to drop between 8.9% (best-case scenario, per Canalys) and 23.4% (worst-case scenario), it said.

In the best-case scenario, the outbreak would mean 382 million units will ship in 2020, down 3.4% from 396 million last year.

The worst case makes a deeper dent, stating that about 362 million units will ship this year, down 8.5% from last year.

“In the best-case scenario, production levels are expected to revert to full capacity by April 2020, hence the biggest hit will be to sell-in shipments in the first two quarters, with the market recovering in Q3 and Q4,” the firm said.

“Thus, worldwide PC market shipments are expected to decline 3.4% year on year in 2020, with Q1 2020 down by 10% and Q2 2020 by 9%. PC market supply will normalize by Q3 2020. On a yearly basis, Canalys expects the worldwide PC market will slowly begin its recovery starting in 2021.”

The worst-case scenario assumes that production levels will not return to their full capacity by June 2020. “Under the assumptions of this scenario, production and demand levels in China will take even longer to recover and Q2 will suffer a decline on a par with Q1 as a consequence. It will be as late as Q4 2020 until we see a market recovery.”

In either of the scenarios, China, one of the world’s largest PC markets, will be most impacted. In worst-case scenarios, “the Chinese market will suffer heavily in 2020 under this scenario, with a 12% year-on-year decline over 2019, and subsequent stabilization taking even longer, with 2021 forecast shipments lagging 6 million behind the best-case scenario. The expected CAGR between 2021 and 2024 in China is 6.3%,” Canalys stated.

China, the global hub for production and supply chain, moved to contain the impact of coronavirus by first extending the official Lunar New Year holidays, which was followed by stringent travel restrictions to keep citizens safe. “This resulted in a significant drop in offline retail traffic and a dramatic fall in consumer purchases,” Canalys analysts said.

The outbreak has also resulted in supply shortages of components, such as PCBs and memory in China and other markets. “Likewise, channel partners have received notifications from key PC vendors over the last two weeks that their PC shipments and replacement parts can be expected to arrive in up to 14 weeks – over three times the usual delivery time – depending on where partners are located,” the firm said.

“Technology vendors and channel partners in the Asia Pacific region face the unexpected challenge of coping with the sudden outbreak of COVID-19 (coronavirus). The crisis was largely unforeseen, even in mid-January. Most leaders this year were anticipating disruption from political instability and natural disasters, not an epidemic,” wrote Sharon Hiu, an analyst at Canalys in a separate report.

The outbreak has impacted several more industries, including smartphones, automobiles, television, smart speakers and video game consoles.

Foxconn, a key manufacturer for Apple, said on Thursday that its 2020 revenue will be impacted by Wuhan coronavirus. The firm said its factories in India, Vietnam and Mexico are fully loaded and it is planning to expand overseas.

Earlier this month, Apple said it does not expect to meet revenue guidance for March quarter due to constrained iPhone supply and low demand due to the store closures in China.

The U.S. giant is expected to miss its schedule for mass producing a widely rumored affordable iPhone, while inventories for existing models could remain low until April or longer, Nikkei Asian Review reported on Wednesday.



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