As predicted by many international organizations, the Coronavirus has started to affect the world economy.
The virus started to spread globally and still continues in the first quarter of 2020. The outbreak of the virus caused force majeure because of the tightened measures taken to combat it. The operation of the Chinese and international factories located in China is either partially restricted or terminated.
Owing to the situation, the Chinese New Year holidays were extended from 24 January to 08 February. As a result, technological enterprises were affected greatly, as either their main manufacturing facilities are located in China or the spare parts are mainly manufactured in China. Currently, all international manufacturers have significant production constraints.
Unfortunately, this situation also affected the supply and contractual obligations of our company, which led to significant delays and deviations from the expected delivery schedule. The supply of 80 laptops under the contract with the National Center for Educational Technologies for the Ministry of Education, Science, Culture, and Sports of the Republic of Armenia has already been significantly delayed.
If the situation continues, the supplies of our other customers may also be affected. We keep in constant contact with our suppliers and partners to handle the situation. We hope that the efforts of the states and international organizations will help to overcome the force majeure situation the soonest possible.
The health of our employees, suppliers, and partners is our top priority. We follow the developments with due attention and will make every effort to minimize the delays.